Máquina de Vendas is the one of largest Brazilian retail company together with GPA, Viavarejo, Lojas Americanas and others. The company was founded in 2010 through the merges of two retail companies, being the Belo Horizonte-based Ricardo Eletro and Salvador-based Insinuante.[1]
Currently the company has more than 490 stores in 442 cities in 20 Brazilian states. The company offers through its subsidiaries 4,5 thousand items in their stores and over 50 thousand items through their websites for electronic commerce. The company competitors includes Viavarejo, Magazine Luiza, Lojas Americanas and others.
Operations
The company has 7 distribution centers and 660 stores through Ricardo Eletro brand. Formerly the company had 1.050 stores divided into 6 brands: Ricardo Eletro, Insinuante, City Lar, Eletro Shopping, Salfer and MV Connect. Máquina de Vendas also operates as online retailer through the Ricardo Eletro brand.
In October 2017, Máquina de Vendas reached an accord with its banks (Banco Itaú Unibanco