Recently there have been rumors that the store HERE, darling among Brazilians, would be extinct in Brazil. This has been a subject much commented on by Internet users in recent days after the possibility of Renner, a competitor of the company, buying the brand. Both brands gained prominence among the business retailer.
According to Lauro Jardim, a columnist for the newspaper O Globo, the negotiations have only taken place behind the scenes. The columnist stated that negotiations are taking place, but that the brands are still silent about the possible agreement.
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Currently, the Renner reached the value of R$ 20 billion, while C&A reached the mark of R$ 750 million. However, this possibility has been discussed since 2020, when the first comments of a possible purchase of the brand appeared.
For years, the retailer has had a drop in profits, so much so that, in the last three months of 2022, the C&A's profit was R$ 61.4 million, showing a similar result in the first months of the year past. In 2022, it is estimated that the company's loss was R$ 152.7 million. More than 60% of the company is spread across Brazil, with 331 stores.
On the other hand, Renner presents better values: in 2022, also during the last few months, profit was R$ 257.9 million, reaching 50% more profit compared to the growth of the same months in 2021. Renner currently has 663 stores in Brazil.
So far, as said, none of the companies have commented on the purchase and sale of the business. There are no confirmations that C&A will be extinguished or sold, although it has consulted the values to carry out the sale, as guided by the columnist of the The globe.
C&A's sales expectations may have increased, as everything indicates, due to the concentration of the company's group being concentrated in different places, including Europe, spread across 18 countries. However, the sale was not confirmed.
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