MEXICO CITY, June 24 Mexican restaurant operator
Alsea announced on Monday its debut in the retail clothing
market with the acquisition of a 25 percent stake in Grupo Axo,
a distributor and retailer of international clothing and
cosmetic brands in Mexico.
The purchase will take place on July 4, according to a news
release from Alsea that did not include a price tag.
Alsea, which operates restaurant chains including PF
Chang's, Domino's Pizza, and Burger King in
Mexico, said the acquisition would diversify the company's
business portfolio, allowing for greater market penetration.
Grupo Axo welcomed the agreement, saying it would
"accelerate our growth in Mexico and open the opportunity to
replicate our successful business model in the rest of Latin
America," according to the Alsea press release.
Grupo Axo has 19 years experience in Mexico, marketing
brands including Tommy Hilfiger, Coach, Guess, and Sephora,
through 116 stores and 2,200 points of sale in department
stores, the statement said.
Alsea has also continued growing within the restaurant
sector, announcing in April it would take equity control of
Starbucks' Mexico stores.