Love Goel Joins Lojas Americanas Board as Chairman, Digital
Father of Multi-Channel Retail Joins Forces with Brazil's Largest Retail Chain
MINNEAPOLIS, Oct. 17, 2012
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
Contact: Kevin Sanchez, +1-415-227-1150 x110, email@example.com
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