Type Department store Website www.sears.com.mx Founded 27 February 1947 | Industry Retail Headquarters Mexico City, Mexico | |
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Key people Carlos Hajj Aboumrad, (CEO) Products Clothing, footwear, bedding, furniture, jewelry, beauty products, appliances, housewares, tools, and electronics. Parent organizations Grupo Sanborns, Sears Holdings, Grupo Carso Profiles | ||
Sears Roebuck de México is a department store chain located in Mexico, operating more than 75 stores all over Mexico. Sears México is operated by Grupo Carso.
History
On February 27, 1947, the first Sears in Mexico City opened, revolutionizing the traditional systems of commercialization and massive exhibition of merchandise, establishing fixed and competitive price policies, instead of implementing the traditional bargaining system.The President who supervised its construction and management was Retired Brigadier General Walter J. Reed who later was sent to Caracas, Venezuela where he repeated his Mexico City store for Venezuela. He then retired to St. Thomas, U.S. Virgin Islands where he supervised the business expansion of the islands.
From 1955 to 1993, Sears opened stores throughout Mexico.
On April 2, 1997, Sears, Roebuck and Company, now owned by Sears Holdings, formed a strategic alliance with Grupo Carso, owned by Mexican businessman Carlos Slim Helú, through which Sears agreed to sell 85% of its share of Sears Mexico to Grupo Carso, until 1997. As of 2007, Grupo Carso owned an 100% share of the company. Even though Sears unveiled a new lowercase logo in the United States in 2010, Sears Mexico still retains the pre-2004 logo that was last used in Sears Canada's logo until 2004.