The group, based in Panamá, is also preparing the first two openings of the brand in Ecuador y the end of the year. Grupo David also distributes American Eagle and Bath&Body Works in several Latin American markets.
Victoria’s Secret prepares to land in Paraguay. The American brand will open its first store in the country next August together with Grupo David, its partner for the Latin American market. The company will also take Victoria’s Secret to Ecuador by the end of this year, Gerardo Marcano, Grupo David’s retail manager, told Mds.
The first store in Paraguay will be located at Shopping del Sol, in Asuncion. According to Marciano, the sales decrease of the brand in the US has not affected its evolution in Latin America. “Victoria’s Secret is doing very well in the region and we forecast a growth of 5% in 2019 “, stated the executive. The company expects 2020 to be “the year of the brand’s relaunch”.
Grupo David will also take American Eagle Outfitters and Bath&Body Works to the same shopping mall in the capital city of Paraguay. The company is also in negotiations to take Victoria’s Secret and Bath&Body Works to Ecuador. The first stores of the brands in the country will be located in Quito and Guayaquil.
Grupo David is also planning to take Bath&Body Works to Peru, but the project is not defined yet
Marcano says all of Grupo David’s brands have grown in 2019, although the final data is not yet available. In 2020, the group plans to grow 10%, fuelled by Bath&Body Works, American Eagle Outfitters and Victoria’s Secret. The company plans to keep the same openings speed and expand its brands in Panama, Dominican Republic and Curaçao.
Grupo David has its headquarters in Panama City, where it manages its operations in eight Latin American countries. Its main markets by stores are Colombia, with 16 stores; Peru and Costa Rica, with 13 stores each.
Founded 30 years ago, Grupo David employs around 1,000 people and has 168 stores in the region with brands like American Eagle, Adidas, Reebok, Clarks, Victoria’s Secret and Bath&Body Works.