Magazine Luiza

Magazine Luiza S.A.
Company typeSociedade Anônima
B3: MGLU3
IndustryRetail
HeadquartersFranca, Brazil
Key people
CEO: Frederico Trajano
Chair: Luiza Trajano
RevenueR$ 56 billion (2021)[1]
R$ 590.7 million (2021)[1]
WebsiteOfficial website

Magazine Luiza S.A., also known as Magazine Luiza, or simply as Magalu, is a Brazilian retail company, along with GPA, Viavarejo, Lojas Americanas and others. The current chairperson is Luiza Trajano and the current CEO is her son Frederico Trajano.

History

In 1992, Magalu launched its first “virtual” stores, which at the time were physical retail outlets equipped with multimedia ordering kiosks,[2] which were still in use in 2019.[3]

In January 2016, Frederico Trajano became Magazine Luiza's CEO.[4]

In August 2020, the company acquired Hubsales, a website selling products directly to consumers, Canaltech, a gadget review website, and InLoco Media an advertising company using mobile phone location tracking data.[5]

In November 2020, it was announced that the trainee program would only accept Black Brazilians in order to confront structural racism, in which Black Brazilians are often sidelined.[6]

References

  1. ^ a b "Earnings Release 2021". Magazine Luiza IR. 15 March 2021. pp. 2, 8, 9. Retrieved 11 July 2022.
  2. ^ "Retailing in Brazil: "Virtual Store Business Model Will Gain Ground" - L'Atelier BNP Paribas". L'Atelier BNP Paribas. Archived from the original on 2019-03-05. Retrieved 2020-10-31.
  3. ^ Grant, Michelle. "The Brazilian Retailer Conquering Omnichannel". Forbes. Retrieved 2019-05-07.
  4. ^ "After 3,800% Rally, CEO of Brazil Retailer Says It's Still Cheap". 2018-02-01. Retrieved 2019-05-07.
  5. ^ "Magazine Luiza anunciou a compra de duas startups para explorar um mercado com potencial bilionário: a publicidade online". ADVFN News (in Brazilian Portuguese). 6 August 2020. Retrieved 2020-09-23.
  6. ^ Perspectives, Opinion by Arick Wierson for CNN Business (17 November 2020). "Opinion: A company in Brazil made a controversial move to fight racism. Other CEOs should try it". CNN. Retrieved 2020-11-22. {{cite web}}: |first= has generic name (help)