Discount Retail Chain Tiendas 3B (owned by Anthony Hatoum and PE Group Quilvest Capital Partners) is a mini-supermarket in a 'hard discount' format, also known as discount stores. According to its internet site, it emerged as an alternative to offer quality products to the Mexican market, but with an affordable cost. This has allowed it to place almost 1,000 branches since its creation in 2005.
The owner and founder of Tiendas 3B is the US - Libanese businessman Anthony Hatoum. According to his LinkedIn profile, he has remained CEO of the chain since its inauguration in 2005. According to several media, he founded it with only two employees.
Hatoum opened 3B Stores with its own capital and from some investors. As he explains, in several interviews, he wanted to build on the successful model of the German ALDI stores and BIM in Turkey.
Who is Anthony Hatoum, the owner of the brand?
According to El Financiero, Anthony Hatoum is an American engineer of Lebanese origin. As he said in an interview with the media, he founded Tiendas 3B by hiring two people and renting an office. With this, he was able to start the brand in 2005, a year after having arrived in Mexico.
His profile on the social network LinkedIn indicates that he studied a career in Engineering at Columbia University. Subsequently, he attended a Master's Degree in Engineering at the prestigious Massachusetts Institute of Technology (MIT). Finally, Hatoum added an MBA from Stanford University to his resume.
Prior to founding Tiendas 3B, he had professional experience in companies such as JP Morgan and McKinsey. In addition, he held various management positions at Boyner Holding and Merryl Lynch.
This is how he founded Tiendas 3B
After jumping into the world of mini-supermarkets in 2005, Hatoum began the expansion of the discount retail brand in Mexico City and its metropolitan area, explains on the company's website. A year later, it opened its first distribution center in Cuautitlán, State of Mexico. At the same time, he launched Lactibu, his first own brand.
By 2008, Tiendas 3B already had 100 branches in various locations. In addition, it registered 6 own brands of various categories. In 2016, the brand already accumulated 5 distribution centers and about 500 stores. This allowed it to enter the Top 500 of Grupo Expansión, says its site.
Currently, its website reports 990 branches in several states of the country. In addition, it claims to maintain a distribution channel through the MercadoLibre portal. In its stores, it reports selling more than 750 products, so it is in the average of its format.
This is the business model of Tiendas 3B
In his profile, Anthony Hatoum points out that the business model of Tiendas 3B is based on that of the German ALDI stores. In an interview with ExcelsiorTV, he deepened that this modality emerged after World War II, where it was necessary to have low-value products due to the scarcity that the European country was going through.
Its official website explains that its 'hard discount' model is based on offering own brand products. He points out that 60% of his catalog is made up of his own items, acquired with strict negotiations and low operating costs. Therefore, they can offer lower prices than their competition.
In addition, its page attributes part of its success to its distribution process. He narrates that it is fast and efficient, which guarantees to reach the network of stores with quality. He even explains that it only incorporates an assortment with qualities equal to or superior to the leading brands in the market.
Comments