Why, if they have the same name, has the network declared bankruptcy in the United States, while in Mexico it’s experiencing one of its best moments?
After 61 years in the market, the chain opened its first store in Mexico in 1947. At that time, it was a subsidiary of Sears Roebuck , as the consortium was then called.
It wasn’t until 1997, five decades later, that the Mexican magnate’s Grupo Carso bought 85% of Sears’ shares in Mexico . The business began to prosper even more than in the United States, and by 2012, Slim had acquired more than 99% of the shares, according to the company’s annual report.
In this sense, Sears Mexico is no longer affiliated with Sears Holding, so the operations are independent and autonomous. The same name is used because the company has the right until 2026.
E-commerce, an enemy of the US but an ally of Mexico
The main reason Sears Holding couldn’t sustain itself was e-commerce, as its rapid growth made it impossible for the company to understand and serve customers on new platforms.
Although there has also been an increase in online commerce, purchases, and users in Mexico, internet coverage still does not reach the entire population, and since the pandemic, companies have accelerated their online coverage processes.
Added to this is the experience of Carlos Slim and his family. According to one of his sons and head of Grupo Sanborns , Patrick Slim Domit , e-commerce is one of the corporation’s priorities for the coming years.
