Organización Soriana is a Mexican public company and one of the largest retailers in Mexico, operating more than 824 stores.[2] It is a grocery and department store chain headquartered in Monterrey, Nuevo Leon. The company is fully capitalized in Mexico and has been publicly traded on the Mexican Stock Exchange (Bolsa Mexicana de Valores) since 1987 under the ticker symbol Soriana.
Overview
Soriana was founded in 1968 by Mexican entrepreneurs and brothers, Francisco and Armando Martín Borque in Torreón, Coahuila. As of 2013, the company operated under the brands Soriana, Clubes City Club, Hipermart, Mercado Soriana, and Super City. Super City serves as the company's convenience store division. Soriana manages supermarkets and department stores catering to both consumer and wholesale markets.
Soriana's main competitors include H-E-B, La Comer, Chedraui, S-Mart, and Walmex. The company highlights its Mexican ownership and operations in its branding. A common retail practice in its stores involves displaying competitors' advertising circulars, such as those from Wal-Mart, Bodega Aurrerá, Superama, Chedraui, Alsuper, or H-E-B, with specific items marked to show lower prices at Soriana.
On December 6, 2007, Organización Soriana acquired Supermercados Gigante for US$1.35 billion. In 2008, Soriana replaced the Gigante brand in most of its stores, including seven locations in the United States, which were subsequently sold to Chedraui in May of that year. Many of the former Gigante stores in Mexico retained existing infrastructure, such as point-of-sale systems and food equipment.
By 2012, the company operated more than 606 stores in 208 cities across Mexico under five store formats: 249 Soriana Híper, 105 Soriana Súper, 147 Mercado Soriana, 72 Soriana Express, and 33 City Club. Soriana also maintained 14 distribution centers. In 2006, for reporting and administrative purposes, the company relocated its headquarters from Torreón to Monterrey.
History
The Beginnings of La Soriana
Soriana traces its origins to 1905, when Pascual Borque, a native of Soria, Spain, established a fabric and perfumery business in Torreón, Coahuila, under the name La Soriana. In 1920, the company incorporated wholesale merchandise into its operations, becoming a prominent reference point for trade and consumption in Torreón.[3][4][5]
In 1930, brothers Armando and Francisco Martín Borque assumed management of the business and expanded operations into municipalities across Coahuila, Durango, Chihuahua, and Sonora. In subsequent years, La Soriana shifted its focus from wholesale to retail.
Beginnings as a supermarket
In 1968, La Soriana discontinued its textiles and perfumery operations and transitioned to the supermarket model. That year, the company opened its first hypermarket, then described as a commercial center, in downtown
Store formats
Soriana Híper
Soriana Híper is the flagship store format of Organización Soriana, created in 1968. The format consists of hypermarkets primarily located in cities with more than 150,000 inhabitants. Stores typically have a sales floor ranging from 4,000 to 11,000 m². They operate under a retail model with a wide assortment of merchandise, carrying approximately 50,000 stock-keeping units (SKUs) across divisions such as clothing, general merchandise, groceries, and perishable foods. Most stores are part of shopping centers that include 40 to 50 smaller retail outlets rented to third parties.
Soriana Híper competes with:
In 2008, most former Gigante stores were converted into Soriana Híper, along with some Bodega Gigante units, three Súper Gigante stores in Baja California, and one Súper Maz location in Mérida.
In 2017, 14 former Comercial Mexicana stores in Baja California were converted to Soriana Híper. In 2018, part of the 47 Comercial Mexicana units acquired in 2016 were also converted, mainly in northern cities such as Mazatlán, Culiacán, Hermosillo, La Paz, Veracruz, Mérida, Zamora, and Celaya.
- Walmart Supercenter (Walmart), its main nationwide competitor
- Chedraui (Grupo Comercial Chedraui)
Promotions
Soriana promotes the Tarjeta del Aprecio (Appreciation Card), a loyalty program through which customers earn points on purchases. Accumulated points can be redeemed for merchandise or store credits, including discounts of up to 20% on general merchandise.
Sponsor
Soriana is the official shirt sponsor of Santos Laguna, a football club in Mexico's top professional league, the Liga MX.
Slogans and trade names
Over the years, Soriana has used several slogans in its advertising campaigns, including:
- Donde todos los días son buenos días ("Where All Days Are Good Days") – late 1970s
- Responde cuando usted lo necesita ("Responds When You Need It") – 1988
- Todos los caminos conducen a Soriana ("All Ways Lead to Soriana") – 1990
- Lo mejor al mejor precio ("The Best at the Best Prices") – 1993
- En suma pagas menos (pun meaning both "Pay Less for the Total" and "In Short, Pay Less") – mid-1990s
- Nuestros precios hablan ("Our Prices Speak") – 1999, 2011
- Apre¢io por ti / A pre¢io por ti (pun meaning both "At the Right Pri¢e for You" and "E$teem for You") – 2000
- Mejores ofertas a precios más bajos ("Better Offers at Lower Prices") – 2001
- El precio más bajo garantizado ("The Lowest Price Guaranteed") – 2002
- El mayor ahorro ("The Greatest Savings") – 2007
- Porque nos importas tú ("Because We Care for You") – 2008
- ¡Hazlo híper, y ahorra! ("Do Hyper, and Save!") – 2013
Evolution
Soriana expanded gradually across Mexico, opening stores in different states as follows:
- 1968 – Coahuila
- 1971 – Durango
- 1972 – Chihuahua
- 1974 – Nuevo León
- 1984 – Tamaulipas
- 1989 – Zacatecas
- 1990 – Aguascalientes
- 1994 – Jalisco, Guanajuato
- 1997 – Querétaro
- 1998 – San Luis Potosí, Veracruz, Tlaxcala
- 1999 – Michoacán, Colima, Sinaloa, Sonora, Tabasco, Hidalgo, Puebla
Criticisms and controversies
2012 presidential election gift card scandal
During the 2012 Mexican presidential election, candidate Andrés Manuel López Obrador alleged that the Institutional Revolutionary Party (PRI) engaged in electoral fraud by distributing Soriana pre-paid gift cards in exchange for votes in favor of its candidate, Enrique Peña Nieto.[104] López Obrador also claimed that other gifts were provided to attract voters.
Both the PRI and Soriana denied the accusations,[105] with the PRI threatening legal action against López Obrador.[106] Peña Nieto stated that anyone, including members of his own party, would face imprisonment if found guilty of electoral fraud.[107] Nevertheless, videos and testimonies from citizens regarding the alleged distribution of Soriana cards were circulated on YouTube and other media platforms.
See also
- List of companies traded on the Bolsa Mexicana de Valores
- List of Mexican companies
- Economy of Mexico
- Comercial Mexicana
- Chedraui
External links
References
- SORIANAB: Organizacion Soriana SAB de CV Stock Price Quote - BMV Mexico - Bloomberg^
- Barbara Farfan. The Largest Mexican Retailers Gain on Global Competitors Like Walmart The Balance Small Business^
- La Soriana y su evolución retailers.mx, retrieved 2019-01-11