Máquina de Vendas

Máquina de Vendas Brasil S.A.
Type	Sociedade Anônima
Industry	Retail
Founded	2010
Headquarters	São Paulo, Brazil
Number of locations	660
Key people	Ricardo Nunes, (CEO)
Products	Furniture, Electronics
Revenue	US$ 1.7 billion (2016)
Net income	- US$ 200. 6 million (2016)
Number of employees	26,370
Website	www.maquinadevendas.com.br

Máquina de Vendas is the one of largest Brazilian retail company together with GPA, Viavarejo, Lojas Americanas and others. The company was founded in 2010 through the merges of two retail companies, being the Belo Horizonte-based Ricardo Eletro and Salvador-based Insinuante.^[1]

Currently the company has more than 660 stores in 442 cities in 20 Brazilian states. The company offers through its subsidiaries 4,5 thousand items in their stores and over 50 thousand items through their websites for electronic commerce. The company's control is divided equally between Ricardo Nunes, former owner of Ricardo Eletro and Luiz Carlos Batista, former owner of Insinuante. The company competitors includes Viavarejo, GPA, Magazine Luíza, Lojas Americanas and others.

Operations

The company has 7 distribution centers and 660 stores through Ricardo Eletro brand. Formerly the company had 1.050 stores divided into 6 brands: Ricardo Eletro, Insinuante, City Lar, Eletro Shopping, Salfer and MV Conect. Máquina de Vendas also operates as online retailer through the Ricardo Eletro brand.

In October 2017, Máquina de Vendas reached an accord with its banks (Itaú Unibanco, Bradesco and Banco Santander) to essentially transfer all its debt (R$1.5 billion) to its shareholders without recourse to the company.^[2]

Brands

Current:

Ricardo Eletro - HQ; Belo Horizonte - 660 stores

Former:

Insinuante - HQ; Salvador - 228 stores
City Lar - HQ; Cuiabá - 224 stores
Eletro Shopping - HQ; Recife - 138 stores
Salfer - HQ; Joinville - 181 stores
MV Conect - HQ; São Paulo - 4 store

References

↑ UPDATE 1-Brazil's Insinuante, Ricardo Eletro agree to merge - Reuters, Mar 29, 2010
↑ "Máquina de Vendas fecha acordo de R$ 1,5 bilhão com bancos - Dona da Ricardo Eletro fica livre de dívidas, que passam para os acionistas" (in Portuguese). Pequenas Empresas & Grandes Negócios. October 31, 2017.

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[1] UPDATE 1-Brazil's Insinuante, Ricardo Eletro agree to merge - Reuters, Mar 29, 2010

[2] "Máquina de Vendas fecha acordo de R$ 1,5 bilhão com bancos - Dona da Ricardo Eletro fica livre de dívidas, que passam para os acionistas" (in Portuguese). Pequenas Empresas & Grandes Negócios. October 31, 2017.