Femsa expands Oxxo footprint in Colombia

Fomento Económico Mexicano (Femsa) is accelerating its retail presence in Colombia through its convenience brand Oxxo. The chain projected more than 650 stores at the close of August and expects to reach 700 locations before the end of the year. The company opened 70% of those stores over the past three years.

In an interview published on 5 September by Valora Analitik, Andrés Morales Maldonado, General Director of Oxxo Colombia, stated that the operation employs more than 5,400 workers across 40 municipalities. Each new location generates between six and eight direct jobs, plus indirect supervisory and distribution roles. The stores receive over 12 million customer visits each month.

Morales Maldonado noted that Colombia and Brazil are designated as strategic growth focuses for Oxxo. The Mexican parent operates over 24,000 stores in Mexico with more than 46 years of history, while Colombia marks 17 years since entering in August 2009. The chain is funding 100% of its Colombian expansion with internal capital, rules out local franchising, and prepares to launch its own proprietary application.