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Colombia: D1 forecasts US $ 2.1 billion in sales this year after completing 1,500 stores

Discount Retail Chain D1, owned by Koba Colombia S.A. and Capital Group, forecast US$ 2.1 billion) in sales this year after announcing the opening of its 1,500th store in the country in San José del Guaviare as part of its expansion.

Koba Colombia announced that this opening is part of the plan to reach all the country's territories with the concept of "low prices and high quality", as well as promote employment in times of pandemic.

"The best way to contribute to the development of the country is by generating employment, improving the quality of life with more affordable products and working hard every day to implement better practices of social and environmental responsibility," Koba said.

Since the D1 start-up its objective has been the democratization of the products of the family basket "not only in the main cities of the country, but also in remote places, where it also contributes to the professional development of the inhabitants."

D1 has a track record of superior execution and a solid management team that has demonstrated excellent cost discipline, an integral part of the hard-discount model. D1’s low capex per store and high negative working capital, characteristic of the hard-discount model, generate high return on capital.

Currently, D1 has a presence in 300 municipalities in Colombia and is in 26 departments with a total coverage of 77% of the country's homes, according to the company.

In addition, with this opening, Tiendas D1 affirmed that it seeks to generate more employment in times of pandemic. To date, the company has 13,000 direct employees in Colombia.

The D1 stores were founded in Colombia 11 years ago and, according to the figures reported, "as of September 2020 it has a cumulative monthly penetration of 80% and a market share of more than 16% in the homes of the Kantar panel."

"We hope to close the year with sales close to Colombian $ 8 billion."

Since the gradual opening of the shops, the D1 Stores have complied with the biosecurity protocols in their premises, which has guaranteed the tranquility of their buyers, as well as the implementation of their home services in response to the emergency.

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