Jeronimo Martins, the Portuguese retail chain, has announced the further expansion of its Ara banner in Colombia, with its network of stores projected to reach 1,300 by the end of 2023, up from fewer than 1,100 the year before.
Staff headcount is set to increase to 14,500, with the company also expecting to operate 17 distribution centres by the end of the year.
A decade ago, Jeronimo Martins operated just 21 stores in Colombia.
“The Ara format is very well received in every region and town”, the company said in a statement, noting that traditional retail formats such as local stores continue to lead the market in the country.
The retailer is reportedly aiming to grow its Ara network further to reach 3-4,000 stores in the next ten years, with some operating on a franchise basis.