Last October, Jüsto entered the Peruvian market after acquiring Freshmart: the leading digital supermarket in the country. Now, the Mexican startup is announcing the opening of its first physical store in Peru. Just as you hear it, and as strange as it may seem.
Jüsto was born as a digital supermarket. It saw an opportunity in a market that had not evolved in 40 years and will implement the physical store model in Peru. If it works as expected, the company will take it to other Latin American countries, according to Ricardo Weder, CEO of Jüsto, who told this to the media.
Jüsto’s Plans for 2022
With the first physical store, Jüsto plans to offer around nine thousand products. The space will be 400 square meters.
This 2022 will also be the year in which Jüsto has the possibility of a new round of investment. Among its goals is to grow five times bigger.
In addition, their expansion plan will continue and they have in mind to reach Chile and Colombia. However, Brazil will continue to be their priority as it is a country where they are seeing great growth.
Last November we spoke with Alejandro Sisniega, Chief of New Business and co-founder of Jüsto. He told Contxto that their arrival in a new territory means the arrival of “a curated and specialized catalog, thanks to our algorithms that show products in a personalized way to users”.
At the time, Sisneaga assured that they had high fulfillment metrics, above the market average, and that their percentage of orders was above 99.9%.
As of the publication of this text, Jüsto has raised US$92 million. Its latest raise was a US$65 million Series A, according to Crunchbase, and has been backed by funds such as General Atlantic, Foundation Capital and Mountain Nazca.
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