Discount Non-food Retail Chain Dollarcity (owned by Canadian Discount non-food Retail Chain Dollarama and Bain Capital) advances its expansion plan in Colombia. In his most recent bet, he announced that he is arriving at the Plaza Claro shopping center, located west of Bogotá, with its 142nd store in the country.
As part of its commitment to generate employment and bring Colombians closer to affordable products, today the company already has more than 1,400 people hired nationwide. Although its expansion plans have been kept silent, the truth is that at this time it already has more than 230 stores located in Colombia, El Salvador and Guatemala.
Dollarcity is a firm that in the last 10 years has revolutionized the way of buying products at low cost. This project was conceived by Marco Andrés Baldocchi Kriete, current nephew of Avianca's majority shareholder, Roberto José Krierte. However, in 2019 50.1% of the company was sold to the Canadian firm Dollarama for a sum amounting to 95 million dollars.
Since then, the company has set an ambitious expansion plan that has spread to these three countries. “We are pleased with this union with our strategic partner, Dollarama, with which from this moment Dollarcity strengthens to continue consolidating its growth platform in Latin America, since in the next 5 years we will be opening more than 225 new stores and investing in key processes of our business, such as the construction of our own distribution centers ”, said at the time Rogelio Sánchez, Dollarcity's CFO.