Last updated on April 18, 2014 at 1:21 EDT

Love Goel Joins Lojas Americanas Board as Chairman, Digital

October 17, 2012

MINNEAPOLIS, Oct. 17, 2012 /PRNewswire/ — GVG Capital Group today announced that Lojas Americanas S.A. [BOVESPA:LAME3 (common) and LAME4 (preferred)], Brazil’s largest retail chain of eponymous stores, has appointed Love Goel, Chairman of the Digital Committee of Lojas Americanas’ Board of Directors. Goel will have oversight responsibility for all Lojas Americanas digital initiatives, investments and businesses including B2W [BOVESPA: BTOW3], the world’s second largest pure-play digital retailer. Earlier this year, GVG signed a three-year management agreement with B2W.

Love Goel is Chairman & CEO of GVG Capital Group. He is widely recognized as the “Father of Multi-Channel Retail” for transforming iconic companies into digital market leaders, and successfully pioneering several digital business models–third party fulfillment, social commerce, real-time analytics, daily deals, and retail closeouts. In his 20s, he transformed Macy’s, the world’s largest department store retailer, into the world’s top multi-channel retailer as COO of its $3 Billion, 20 company digital business.

He similarly transformed Fingerhut into the world’s largest digital retail network. He built three billion dollar e-commerce companies from scratch–in software, services and retail, was a top Silicon Valley CEO, and helped to launch/grow the digital business of 100+ market leaders from Apple to Wal-Mart. He has invested in and built over two dozen digital retail market leaders, creating billions in shareholder value.

About Lojas Americanas (http://ri.lasa.com.br)

Lojas Americanas S.A. [BOVESPA: LAME3 (common) and LAME4 (preferred)] is Brazil’s largest retail chain of eponymous stores – approximately 700 stores across all 24 states and the federal territory. The stores operate in two formats – Traditional (1,400 sq. mt., 60,000 SKUs) and Express (400 sq. mt., 15,000 SKUs). It is the leading Brazilian retailer across several categories including home, leisure, beauty, infant, toys, chocolates and candies, lingerie and CDs. It owns a 59.58% stake in B2W.

About B2W (http://www.b2winc.com)

B2W [BOVESPA: BTOW3] is the largest digital retailer in Latin America (Latam), the world’s fastest growing digital retail market. Its three core business include americanas.com, Latam’s largest internet retailer; submarino.com, Latam’s largest pure-play internet retailer, most beloved digital brand and the world’s most followed internet retailer on Twitter; and Shoptime, Latam’s largest TV-based digital shopping network. Its ancillary businesses include Submarino Viagens, one of Latam’s top 3 online travel agencies; ingresso.com, Latam’s largest ticketing site; soubarato.com, an online retail closeout site; Submarino Finance, a leading online credit provider; and Blockbuster Online/VOD, Latam’s leading online video rental and streaming service; and Latam’s largest outsourcing business for third party e-commerce services. B2W is the leading mobile retailer in Latin America selling products, event tickets and travel solutions. B2W is Latam’s #1 digital retailer in sales across 37 product categories including electronics, home, appliances, beauty, toys, outdoors, books, music, video games, infant, sporting goods, leisure and automotive. B2W is listed on the BM&FBOVESPA exchange as a Novo Mercado company, the highest level accorded for corporate governance in Brazil.

About GVG Capital Group (http://www.gvgcapital.com)

GVG Capital Group is a private equity firm renowned for its digital and global expertise. It invests in high growth consumer and retail businesses. GVG typically partners with top private equity firms or corporations to invest and build market leaders. GVG brings an operating focus and actively works with management teams to win dominant market share. GVG invests in companies in North America, South America, Europe and Asia.

SOURCE GVG Capital Group

Source: PR Newswire