Magalu Consortium, the consórcio administrator of Magazine Luiza, and Monteo Investments, a Financial Consulting company, are together in a partnership focused on increasing the average sales ticket. The expectation is to sell 500 million reais in shares by the end of 2024 and expand the brands' participation in the consortium market.
"The conversation for the partnership began in 2023, when we developed a project to expand our corporate sales channel with a focus on clients with the potential to acquire large volumes," says Magalu Consortium spokesperson, Edvaldo Ferraro. This partnership worked out because Monteo, which is specialized in this area, was looking for a company that offered new products for the market with a focus on the best customer service – one of Magalu group's main values.
The Brazilian market is going through a very opportune moment for the potential strengthening of this partnership. "Investment offices understood that the consortium, in addition to providing good diversification for the investment portfolio, can significantly profit the market," says Edvaldo Ferraro, spokesperson for the Magalu Consortium. "The cost of this money is cheaper than the client's cost of capital. In other words, it's better for them to leverage their assets through the consortium than to make a cash purchase. The financial advisor's role is to help them achieve their goals."
Monteo has been in the market for over 13 years and has a broad client base of more than 2,500 customers. Under the company's management, there are over 1 billion reais in consortium credits.
Currently, to meet this demand, Magalu Consortium has plans for all segments, with the main ones being: real estate, cars, and motorcycles, in addition to selling complementary products to the portfolio such as nautical, aviation, and agricultural. Find out more at:www.consorciomagalu.com.br
