Walmart will change its name to Grupo Big and will focus more on cash and carry formats; 100 stores should be renovated in Brazil by 2020

Walmart will have a new name in Brazil. The new corporate brand is Grupo BIG. The company also announced an investment of approximately R$1,2 billion over the next 18 months to modernize and expand stores. Speaking of investment, 2 jobs will be created with the new installation of the pulp industry

Much has been speculated about the future of Walmart in Brazil. A little over a year ago, the investment company Advent International announced the purchase of 80% of the American chain's Brazilian operations, a series of rumors dominated the debates among experts, from a possible entry by Amazon into the business to the complete transformation of existing stores in the country.

O Walmart finally announced what it will do with its operation in Brazil. The first change will be the name of the brand, the second involves adoption focused on wholesale, a sector that has the proposal to sell at lower prices than those found in hypermarkets and supermarkets.

Grupo Big currently has 550 stores and 50 employees in 18 Brazilian states. “By June 2020, the expectation is to complete the renovation of 100 hypermarkets”, concluded the company.

According to the same statement, the Sam's Club banner will have 10 new stores within a period of one year, with the first one expected to open in the coming weeks. Another three will open by the end of 2019.

Just for using the name, the company needs to pay monthly royalties to the Americans, owners of the Walmart brand, of 0,7% of sales. With the change, this obligation is annulled.

Founded in 1995, Grupo Big is consolidated in the Brazilian market. Walmart never took off in Brazil, it never got past the third place in the Brazilian retail ranking. The chain's operation in the country was marked by the closure of stores, changes in presidents and constant losses.

Even episodes of corruption were recorded. The company paid US$282 million in fines for failing to act to prevent the commission of illicit acts in Brazil, Mexico, India and China. In Brazil, Walmart informed the US Department of Justice that it made improper payments to government officials in return for facilitating the construction of stores.

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