Home / Knowledge / News / Apparel/Garments / Lojas Renner BoD approves Leader acquisition
Lojas Renner BoD approves Leader acquisition
05
Sep '08
The second largest apparel department store chain in Brazil, Lojas Renner announces that its Board of Directors has approved the acquisition of Leader Participacoes S.A, which holds 100% of the capital stock of Uniao de Lojas Leader S.A, and, indirectly, 50% of the capital stock of Leader S.A. Administradora de Cartoes de Credito.

Complementarities and synergies of the new operation. The client overlap between the two chains is small, and the business complementarity is significant.

From a marketing point of view, both operations will be kept separate, with Lojas Renner keeping its focus on the middle and upper-middle income segments of the Brazilian population, and Leader concentrating on the emerging low income segment.

After the Leader acquisition, Renner will also hold one of the largest private label card bases in Brazil, currently with approximately 17 million cards.

By adopting Leader's compact-store format, with an average selling area of 1,500 square meters, Lojas Renner may speed up the opening of new stores, both in malls and stand-alone formats.

In 2007, the two companies together recorded sales of R$3.1 billion, 15.6 million cards issued, 14,000 employees, 133 stores and 3 distribution centers.

Leader, having good penetration in the low income market (classes C and D), is an important channel for the offer of financial services to a population with less access to banking services and greater demand for credit.

Through a joint venture with Bradesco, Leader offers a wide variety of products: interest-bearing sales, personal loans, co-branded cards (in a partnership with Visa) and revolving credit, in addition to offering insurance and capitalization bonds.

With a solid operation, 66% of total sales are conducted through its private label card, 36% of which are interest-free and 30% interest-bearing.

Lojas Renner


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 14th Nov 2018

Vietnam ratifies trans-Pacific trade pact CPTPP

Vietnam’s 14th National Assembly recently adopted a resolution...

Courtesy: EU Chamber of Commerce

Textiles | On 14th Nov 2018

PRC promises unrealised: EU Chamber of Commerce in China

The European Union (EU) Chamber of Commerce in China has said the...

Zimbabwe’s firm sacks 200 as S Africa scraps trade pact

Apparel/Garments | On 14th Nov 2018

Zimbabwe’s firm sacks 200 as S Africa scraps trade pact

Zimbabwe’s apparel company Archer Clothing is witnessing fears of...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search