Walmex

Walmex is the largest Mexican company in terms of revenue and the largest retail company in Latin America.

Categories

Retail and Consumer Goods  

#211

Rank

$70.89B

MarketCap MX

MX Mexico

Country

Summary

Wal-Mart de México, S.A.B. de C.V. (Walmex) is the largest Mexican company in terms of revenue and the largest retail company in Latin America. It owns and operates self-service stores in Mexico and Central America. The company operates discount warehouses and stores, hypermarkets, supermarkets, and membership self-service wholesale stores. 

Walmex operates 2,198 Bodega Aurrerá discount stores, 294 Walmart hypermarkets, 14 Superama supermarkets, 85 Walmart Express supermarkets, and 165 Sam's Club membership self-service wholesale stores. The company also operates 572 Despensa Familiar and Palí discount stores; 98 Paiz, La Despensa de Don Juan, La Unión, and Más x Menos supermarkets; 158 Bodegas, Maxi Bodega, and Maxi Palí stores; and 36 Walmart hypermarkets in Costa Rica, Guatemala, Honduras, Nicaragua, and El Salvador. In addition, it imports and sells goods; develops properties; and manages real estate companies. 

The company was founded in 1958 and is headquartered in Mexico City, Mexico. Wal-Mart de México, S.A.B. de C.V. is a subsidiary of Intersalt, S. De R.l. De C.v.


History

Walmart de Mexico y Centroamérica, commonly known as Walmex, was founded in 1958 by a group of Mexican businessmen who saw an opportunity to bring the concept of discount retailing to Mexico. The company's first store opened in Mexico City, and it quickly gained popularity among consumers who were looking for high-quality products at low prices.

Throughout the 1960s, Walmex expanded its operations, opening new stores in other parts of Mexico. The company also began to develop its own supply chain, working with local producers and manufacturers to ensure that it could offer the best products at the lowest possible prices.

By the 1970s, Walmex had become a major force in the Mexican retail industry, with stores in all major cities and a reputation for providing excellent customer service. The company also began to explore opportunities outside of Mexico, opening its first store in Central America in 1977.

During this period, Walmex faced several challenges, including economic instability and political uncertainty in Mexico. The country experienced a period of rapid inflation in the 1970s, which made it difficult for Walmex to maintain its low prices. The company also had to navigate changing government policies and regulations, which sometimes made it difficult to import goods or open new stores.

Despite these challenges, Walmex continued to grow throughout the 1970s. The company's success was driven by a number of factors, including its focus on low prices, its commitment to quality, and its ability to adapt to changing market conditions. Walmex also invested heavily in its employees, providing training and opportunities for advancement, which helped to build a loyal and dedicated workforce.

By the end of the 1970s, Walmex had become one of the largest retailers in Mexico, with over 100 stores across the country. The company had also established a presence in Central America, with stores in Guatemala and El Salvador.

In 1983, Walmex became a publicly traded company on the Mexican Stock Exchange, which allowed the company to access new sources of capital to fuel its expansion. The company also began to diversify its offerings, expanding beyond traditional discount retail to include superstores and warehouse clubs.

Walmex continued to invest heavily in its supply chain during this period, working with local producers and manufacturers to improve the quality of its products while maintaining low prices. The company also developed its own private label brands, which helped to differentiate it from its competitors and strengthen its brand identity.

In 1991, Walmex established a joint venture with Cifra, another major retailer in Mexico, which allowed the company to expand even more rapidly. The joint venture, known as Wal-Mart de México, S.A., operated under the Walmart banner and brought the iconic American brand to Mexico for the first time.

The partnership with Walmart proved to be a major success, and by the end of the 1990s, Walmex had over 400 stores across Mexico and Central America. The company's success was driven by a number of factors, including its commitment to low prices, its focus on customer service, and its willingness to invest in technology and innovation.

Walmex also continued to face challenges during this period, including increasing competition from domestic and international retailers, as well as economic and political instability in Mexico and Central America. However, the company was able to weather these challenges and emerge even stronger, thanks in large part to its talented and dedicated workforce and its commitment to its customers.

By the turn of the millennium, Walmex had firmly established itself as a leader in the Mexican and Central American retail markets, with a reputation for providing high-quality products at affordable prices. With a strong foundation in place, the company was well-positioned to continue its growth and expansion into the 21st century.

One of Walmex's most significant milestones during this period was the acquisition of the Mexican supermarket chain Superama in 2005. This acquisition allowed the company to expand its offerings beyond discount retail and into the higher-end grocery market. Walmex also continued to invest in technology and innovation, launching a number of new digital initiatives aimed at improving the customer experience.

In 2010, Walmex was rocked by a major scandal, when it was revealed that the company had engaged in widespread bribery to secure permits and other favors in Mexico. The scandal led to investigations by both Mexican and American authorities, and resulted in significant financial penalties for the company. In response, Walmex launched a number of initiatives aimed at improving transparency and compliance, including the creation of a new Ethics and Compliance Committee.

Despite the scandal, Walmex continued to grow and expand, opening new stores and investing in e-commerce and other digital initiatives. The company also continued to focus on sustainability and social responsibility, launching a number of initiatives aimed at reducing its environmental impact and supporting local communities.

In recent years, Walmex has faced a number of new challenges, including increased competition from domestic and international retailers, as well as economic and political instability in Mexico and Central America. The company has also had to navigate the COVID-19 pandemic, which has had a significant impact on the retail industry worldwide.

Throughout these challenges, Walmex has remained committed to its core values of low prices, quality products, and excellent customer service. The company has also continued to invest in its employees, providing training and opportunities for advancement, and in technology and innovation, to ensure that it remains at the forefront of the retail industry.

As of 2023, Walmex operates over 3,500 stores across Mexico and Central America, making it one of the largest and most successful retailers in the region. With a strong foundation in place, the company is well-positioned to continue its growth and expansion into the future.


Mission

The mission of Walmart de Mexico y Centroamérica, commonly known as Walmex, is to provide its customers with access to high-quality products at the lowest possible prices, while also creating value for its shareholders, supporting its employees, and making a positive impact on the communities in which it operates.

To achieve this mission, Walmex is committed to offering a wide range of products that meet the needs and preferences of its customers, while also maintaining the highest standards of quality and safety. The company is also dedicated to driving efficiency throughout its supply chain, in order to keep costs low and prices competitive.

In addition, Walmex is committed to creating a positive and supportive work environment for its employees, offering training and development opportunities, and promoting diversity and inclusion. The company also aims to make a positive impact on the communities in which it operates, through initiatives focused on sustainability, social responsibility, and community engagement.

Ultimately, Walmex's mission is to be the retailer of choice for its customers, delivering value, convenience, and quality in everything it does, while also creating long-term value for its shareholders and making a positive impact on the world around it.


Vision

The vision of Walmart de Mexico y Centroamérica, commonly known as Walmex, is to be the leading retailer in Mexico and Central America, delivering exceptional value and service to its customers, while also making a positive impact on society and the environment.

To achieve this vision, Walmex is committed to investing in technology and innovation, to improve the customer experience and drive efficiency throughout its operations. The company also aims to expand its offerings, introducing new product lines and services that meet the evolving needs of its customers.

In addition, Walmex is dedicated to sustainability and social responsibility, working to reduce its environmental impact and support the communities in which it operates. The company aims to be a force for positive change, promoting diversity and inclusion, and supporting initiatives that make a meaningful difference in people's lives.

Ultimately, Walmex's vision is to be the retailer of choice for millions of customers across Mexico and Central America, offering quality products at low prices, delivered with exceptional service and a commitment to sustainability and social responsibility. By achieving this vision, the company hopes to make a positive impact on the world around it, improving the lives of customers, employees, and communities throughout the region.


Key Team

John Gleason (VP of Treasury, Tax & Investor Relations)

Mr. Alberto Manuel Sepúlveda González Cosío (Exec. VP and Gen. Director for Legal & Institutional Matters and Sec.)

Ms. Adriana Velázquez (Chief Compliance Officer)

Ivonne Montiel (VP of Marketing, Shopper Insights & Bus. Intelligence)

Eduardo de la Garza (Sr. VP of HR)

Mr. Steve Procter (Bus. development director)

Mr. Álvaro De Arrigunaga (Chief Merchandising Officer)


Recognition and Awards
Forbes Global 2000: Walmex has consistently ranked in Forbes' annual list of the world's largest public companies, placing 258th in 2021. Dow Jones Sustainability Index: Walmex has been included in the Dow Jones Sustainability Index for Latin America every year since 2013, recognizing the company's commitment to sustainability and social responsibility. Great Place to Work: Walmex has been recognized as a Great Place to Work in Mexico every year since 2011, reflecting the company's commitment to providing a positive and supportive work environment for its employees. ESR Distinctive: Walmex has received the ESR Distinctive from the Mexican Center for Philanthropy every year since 2002, recognizing the company's commitment to social responsibility and sustainability. Retailer of the Year: Walmex has been named Retailer of the Year in Mexico by several industry groups and publications, including the National Retailers Association and Retail News. Sustainable Retailer of the Year: Walmex was named Sustainable Retailer of the Year by the Latin American Association of Supermarkets in 2019, recognizing the company's leadership in sustainability and responsible business practices.

Products and Services

Groceries: Walmex offers a wide range of food products, including fresh produce, dairy, meat, bakery items, and pantry staples.

Clothing and fashion: Walmex offers a variety of clothing options for men, women, and children, including casual wear, workwear, and special occasion attire.

Home goods: Walmex offers a range of products for the home, including furniture, home décor, kitchenware, and bedding.

Electronics: Walmex offers a variety of electronics, including computers, smartphones, televisions, and home appliances.

Pharmacy: Walmex offers prescription drugs, over-the-counter medications, and health and wellness products.

Financial services: Walmex offers a range of financial services, including money transfers, bill payment, and credit services.

Online shopping: Walmex offers an online shopping platform, allowing customers to shop from the comfort of their own homes.


References
Walmex
Leadership team

Mr. Paulo Garcia (Sr. VP of Admin. & Fin.)

Carlos Gerardo Arroyo (Chief Operations Officer)

Industries

Retail and Consumer Goods

Products/ Services
E-Commerce, Nightclubs, Retail, Shopping
Number of Employees
Above 50,000
Headquarters
Mexico City, Distrito Federal, Mexico
Established
1965
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001042347
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
WMMVF
Social Media

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Thu Feb 29 2024
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