{"id":5094,"date":"2024-07-25T17:23:43","date_gmt":"2024-07-25T17:23:43","guid":{"rendered":"https:\/\/news.godj.com\/news\/the-billionaire-retailer-whose-shops-had-no-stock\/"},"modified":"2024-07-25T17:23:43","modified_gmt":"2024-07-25T17:23:43","slug":"the-billionaire-retailer-whose-shops-had-no-stock","status":"publish","type":"post","link":"https:\/\/news.godj.com\/news\/the-billionaire-retailer-whose-shops-had-no-stock\/","title":{"rendered":"The billionaire retailer whose shops had no stock"},"content":{"rendered":"


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Within three years Magazine Luiza had a few hundred of its shops across Brazil, with some large cities having as many as 58 outlets. Today the company has more than 1,000 stores across Brazil and 30,000 employees. Meanwhile, its website accounts for 48% of sales and it has total annual revenues of 19.7bn real ($4.9bn; \u00a33.7bn).<\/p>\n

The success of the business has made Luiza one of the richest people in Brazil. Her net worth is $3.5bn (\u00a32.7bn), according to Forbes magazine, external<\/span><\/a>.<\/p>\n

The first Magazine Luiza shop was opened in 1957 by Luiza’s aunt and uncle, in her home city of Franca, 400km (250 miles) north of the city of Sao Paulo, The word “magazine” was chosen as a variation of the French word for shop, “magasin”, while “Luiza” was also her aunt’s first name.<\/p>\n

Luiza started helping her aunt and uncle at the shop from the age of 12, working in the afternoon and early evening after she had finished school. “I was a saleswoman, and it was still a very small shop [at the time],” she says. “I loved the experience, and it was a success.”<\/p>\n

When Luiza went to university to study law, she still made time to work at the shop. And after graduating she joined the family business full-time.<\/p>\n

Over the next two decades she filled a number of increasingly senior roles, before coming chief executive in 1991, as her uncle and aunt stepped back from the day-to-day running of the business.<\/p>\n

Another innovation Luiza introduced was opening the stores very early in the morning during sales periods. This might have long been common practice in the UK and North America, but in 1990s Brazil it was a novel development.<\/p>\n

“We opened the shops at 5am, something that we had never seen before in Brazil.” she says. “Other retail shops started to do the same.”<\/p>\n<\/div>\n


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Within three years Magazine Luiza had a few hundred of its shops across Brazil, with some large cities having as many as 58 outlets. Today the company has more than 1,000 stores across Brazil and 30,000 employees. Meanwhile, its website accounts for 48% of sales and it has total annual revenues of 19.7bn real ($4.9bn; […]<\/p>\n","protected":false},"author":1,"featured_media":5095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[3404,3405,1655,3353],"class_list":["post-5094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurship","tag-billionaire","tag-retailer","tag-shops","tag-stock"],"_links":{"self":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/5094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/comments?post=5094"}],"version-history":[{"count":1,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/5094\/revisions"}],"predecessor-version":[{"id":5096,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/posts\/5094\/revisions\/5096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media\/5095"}],"wp:attachment":[{"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/media?parent=5094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/categories?post=5094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.godj.com\/news\/wp-json\/wp\/v2\/tags?post=5094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}