The symbolic 200th ribbon-cutting ceremony that took place in the town of Curitiba located in the Brazilian state of Paraná completed an eventful year for Assaí. Let’s take a look back at the 2021 results of Casino group’s cash & carry specialist.
As a result of its wholesale volumes and its very low and affordable prices, Assaí’s cash & carry model drastically grew in popularity in Brazil. Following the “spin-off” that enabled Assaí to set itself up as a separate entity alongside GPA, the banner succeeded its Initial Public Offering by early 2021, first on the Brazilian stockmarket and then on the New York Stock Exchange.
Assaí confirmed its ambitions with the takeover of 71 Extra hypermarkets to be converted into its cash & carry model over the next two years. Its aim is to speed up its expansion plan to strengthen the country’s territorial coverage. The banner successfully managed to open 13 new stores during the month of December. Recently reached, the target of 200 Assaí stores has already been significantly outperformed.
“This 200th store is a symbolic turning-point for which we have worked hard in recent years. It embodies the efforts of all our teams. It also illustrates a clear and well-executed expansion plan. In just 10 years, we have expanded throughout Brazil, extending our presence from 4 to 24 Brazilian states.” — Belmiro Gomes, Managing Director of Assaí
At the same time, 2021 marked Assaí’s first steps in e-commerce, through a partnership with Uber. Thanks to the “Cornershop” platform, Assaí can now offer its own brand products to consumers in 25 major cities of the country.
Over the past ten years, Assaí’s turnover has increased by an average of 24% per year.
