RIO DE JANEIRO, BRAZIL – The Walmart Brazil retail chain has decided to change its brand in the country to Grupo Big, approximately one year after the Advent investment company acquired eighty percent of its operations in Brazil.
The company expects investments of R$1.2 billion (US$300 million) in Brazil over the next 18 months to upgrade and expand its stores, which will be more focused on wholesale formats, explored by rivals such as GPA and Carrefour Brazil.
The new Grupo Big currently operates approximately 550 stores with 50,000 employees in 18 Brazilian states, in addition to the Federal District. The company claims to be the third-largest food retail conglomerate in Brazil.
“Walmart hypermarket stores in the South and Southeast regions will be called BIG, while in the Northeast, all hypermarkets will be called Big Bompreço”, said the company in a press release. “Until June 2020, we expect to complete the renovation of 100 hypermarkets,” said the company.
The Sam’s Club brand will have ten new stores within a year, according to the company. The first store will be launched at the beginning of this semester, and three more units will open by the end of the year, said the company. “This is part of the project to convert hypermarkets into Maxxi Atacado (“Wholesale Maxxi”) and Sam’s Club”, said the group.