AISLES OF SUCCESS

Carulla Vivero continues to grow with its multi-format business model. The company will be opening two new stores this year. In 2004, the company is planning on building four new stores: two Carulla neighborhood supermarkets and two Vivero supercenters.

Carulla Vivero, a prime example of successful Colombian private sector ,is the country’s second largest retail food chain. The company currently has 20% of market share and is betting on Colombia’s growth to consolidate its position as a market leader.

SAMUEL AZOUT PAPÚ President of Carulla Vivero

Company President Samuel Azout Papú says the company, which has been registering over 18% growth over the last few years, is set to invest over US$100 million over the next three years as part of its expansion plans. Mr. Azout comments, “Our expectations are based on the development of the Colombian economy. We think that there is still a lot of room to expand in this sector in Colombia because 45% of the market is still controlled by neighborhood stores or small, informal markets. But, as the acquisition power of Colombians improve, this market share will shift to the formal sector, as has happened in other emerging economies.”

Carulla Vivero currently operates 135 stores throughout the country, divided into three chains, each targeting a certain economic section of the population. Although the entrance of foreign operators has upped the ante in the sector, Carulla Vivero is confident that it is well prepared for increased competitiveness; the company is interested in finding strategic partners to share in its future expansion.