Thursday , January 28 2021

Francisco de Narváez expands its investment in Uruguay: rising to 9,000 employees – 09/12/2018

Francisco de Narvazez strives to grow in investment … but in Uruguay, So far, last week bought the e-commerce company Woow who adds to his Ta-Ta group, which is already working in more than 7,000 workers in the neighboring country, Ta Ta, Multiahorro Hogar, BAS and Plus supermarkets.

"We bought a WoOW company that employs 150 people whose three founders are fantastic entrepreneurs," said Mr Nazarez at breakfast at the Uruguay Embassy in Buenos Aires next to El Pais in Montevideo.

Utopian Chief Executive Officer Christopher Jones told El Pais that negotiations with WoOw have been going on for "several months" and that, from a commercial point of view, the two brands will continue to work "completely independently." Indeed, WoOW founder Leonardo Silveira will continue to serve as CEO.

Breakfast at the Uruguayan Embassy in Buenos Aires, in which Uruguay's Minister of Economy and Finance, Danilo Astori, speaks; De Narváez evaluates his group will invest $ 150 million in the next three years in Uruguay to generate another 2000 jobs.

The businessman, born in Colombia, and a nationalized Argentine, "went through the hat" in order to get new loans that allow more work to be generated. "We were won with credits from Banco República but I think that more can be done with more investments aimed at linking the bigger generation of employment, "he told the Uruguayan press.With Woow's purchase, they seek to" revolutionize all-round trade in Uruguay " , the two companies said in a statement, the acquisition amounting to $ 18 million, a figure not officially announced.

As for all-round trade, this is the new trend that promises to take over all the channels the system offers, where traditional trade and e-commerce are united. And there is an intensive use of the most diverse platforms, from facebook or twitter to channel purchases.

With an emphasis on e-commerce, WoOW is dedicated to the sale of travel, products and experiences. The company was established in 2010, has more than 280,000 customers, more than 24 million dollars gross sales and 400,000 annual transactions, the joint statement said.

In Argentina De Narváez was the shareholder and CEO of Casa Tia, which was sold to the Exxel Group. When he reduced his activities as CEO, he was hiding in politics where he was a deputy between 2005 and 2015. Together with Maurizio Macri created faith and growing with equipment for work in the areas of infrastructure, education, health, the economy, justice and security. The technical academics they recruited came from almost the entire ideological arc. And many of them occupy key positions in the government today.

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