MINNEAPOLIS, Oct. 17, 2012 /PRNewswire/ -- GVG Capital Group
today announced that Lojas Americanas S.A. [BOVESPA:LAME3 (common)
and LAME4 (preferred)], Brazil's
largest retail chain of eponymous stores, has appointed
Love Goel, Chairman of the Digital
Committee of Lojas Americanas' Board of Directors. Goel will have
oversight responsibility for all Lojas Americanas digital
initiatives, investments and businesses including B2W [BOVESPA:
BTOW3], the world's second largest pure-play digital retailer.
Earlier this year, GVG signed a three-year management agreement
with B2W.
Love Goel is Chairman & CEO
of GVG Capital Group. He is widely recognized as the "Father of
Multi-Channel Retail" for transforming iconic companies into
digital market leaders, and successfully pioneering several digital
business models—third party fulfillment, social commerce, real-time
analytics, daily deals, and retail closeouts. In his 20s, he
transformed Macy's, the world's largest department store retailer,
into the world's top multi-channel retailer as COO of its
$3 Billion, 20 company digital
business.
He similarly transformed Fingerhut into the world's largest
digital retail network. He built three
billion dollar e-commerce companies from scratch—in
software, services and retail, was a top Silicon Valley CEO, and
helped to launch/grow the digital business of 100+ market leaders
from Apple to Wal-Mart. He has invested in and built over two dozen
digital retail market leaders, creating billions in shareholder
value.
About Lojas Americanas (http://ri.lasa.com.br)
Lojas Americanas S.A. [BOVESPA: LAME3 (common) and LAME4
(preferred)] is Brazil's largest
retail chain of eponymous stores – approximately 700 stores across
all 24 states and the federal territory. The stores operate in two
formats – Traditional (1,400 sq. mt., 60,000 SKUs) and Express (400
sq. mt., 15,000 SKUs). It is the leading Brazilian retailer across
several categories including home, leisure, beauty, infant, toys,
chocolates and candies, lingerie and CDs. It owns a 59.58% stake in
B2W.
About B2W (http://www.b2winc.com)
B2W [BOVESPA: BTOW3] is the largest digital retailer in
Latin America (Latam), the world's
fastest growing digital retail market. Its three core business
include americanas.com, Latam's largest internet retailer;
submarino.com, Latam's largest pure-play internet retailer, most
beloved digital brand and the world's most followed internet
retailer on Twitter; and Shoptime, Latam's largest TV-based digital
shopping network. Its ancillary businesses include Submarino
Viagens, one of Latam's top 3 online travel agencies; ingresso.com,
Latam's largest ticketing site; soubarato.com, an online retail
closeout site; Submarino Finance, a leading online credit provider;
and Blockbuster Online/VOD, Latam's leading online video rental and
streaming service; and Latam's largest outsourcing business for
third party e-commerce services. B2W is the leading mobile retailer
in Latin America selling products,
event tickets and travel solutions. B2W is Latam's #1 digital
retailer in sales across 37 product categories including
electronics, home, appliances, beauty, toys, outdoors, books,
music, video games, infant, sporting goods, leisure and automotive.
B2W is listed on the BM&FBOVESPA exchange as a Novo Mercado
company, the highest level accorded for corporate governance in
Brazil.
About GVG Capital Group
(http://www.gvgcapital.com)
GVG Capital Group is a private equity firm renowned for its
digital and global expertise. It invests in high growth consumer
and retail businesses. GVG typically partners with top private
equity firms or corporations to invest and build market leaders.
GVG brings an operating focus and actively works with management
teams to win dominant market share. GVG invests in companies in
North America, South America, Europe and Asia.
SOURCE GVG Capital Group