Via Varejo Mulls Selling Extra.Com Domain Back to GPA
September 25, 2019 at 03:56 pm EDT
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Three months after becoming the largest shareholder and chairman of Via Varejo S.A. (BOVESPA:VVAR3), retail veteran Michael Klein and his family are now considering the sale of the domain Extra.com to former controller GPA SA. “We are still valuing the domain to begin talks with GPA or other groups,” Via Varejo’s Chairman, Klein, told journalists on September 25, 2019, adding the retailer currently handles independently all logistics, pricing and other commercial strategies for Extra online sales. GPA, controlled by Casino Guichard Perrachon SA declined to comment.
Via SA, formerly Via Varejo SA is a Brazil-based company engaged in multichannel retail of consumer electronics and furniture. The Company operates in the consumer electronics, home appliance, mobile phone and furniture retail segments through Casas Bahia and Ponto Frio banners, as well as through the e-commerce platforms: pontofrio.com, casasbahia.com and extra.com.br. The Company has over 1000 stores and is present in more than 20 Brazilian states. In addition, it owns Bartira, a furniture manufacturer, that makes furniture for bedrooms, kitchens and living rooms, among other things, which are sold exclusively at Casas Bahia and Pontofrio stores. The Company provides also financial services, such as consumer finance, through credits and co-branded credit cards.