Grupo Famsa
Encyclopedia
Grupo Famsa is a retail company engaged in the purchase and sale of household appliances, electronic products, furniture, clothing and other consumer products in Mexico and United States. Today the company has 421 stores in 78 Mexican cities and 37 cities in the United States. The company has its headquarters in Monterrey
, Mexico.
It also manufactures furniture and provides banking and credit services, including personal car financing through its Banco Ahorro Famsa. The bank has 277 banking branches within its stores in Mexico. In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.
In addition, Famsa is in the footwear catalog business. The company serves wholesale and retail customers through retail branches and wholesale warehouses. The company was founded in 1970 in Monterrey
.
in late 2000. Famsa intended to target the growing Hispanic American
population. In 2005 the company made $1 billion United States dollar
s in sales; its United States sales made up 11.9 percent of its figure. In 2006 Famsa had 25 U.S. stores; during that year the company planned to open 25 additional United States locations by 2010. In early 2006 Famsa opened operations in Guatemala and planned to begin deliveries to El Salvador.
Monterrey
Monterrey , is the capital city of the northeastern state of Nuevo León in the country of Mexico. The city is anchor to the third-largest metropolitan area in Mexico and is ranked as the ninth-largest city in the nation. Monterrey serves as a commercial center in the north of the country and is the...
, Mexico.
It also manufactures furniture and provides banking and credit services, including personal car financing through its Banco Ahorro Famsa. The bank has 277 banking branches within its stores in Mexico. In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.
In addition, Famsa is in the footwear catalog business. The company serves wholesale and retail customers through retail branches and wholesale warehouses. The company was founded in 1970 in Monterrey
Monterrey
Monterrey , is the capital city of the northeastern state of Nuevo León in the country of Mexico. The city is anchor to the third-largest metropolitan area in Mexico and is ranked as the ninth-largest city in the nation. Monterrey serves as a commercial center in the north of the country and is the...
.
History
Don Humberto Garza opened the Fabricantes Muebleros, his first store. The store became Famsa, which spread throughout Mexico beginning in 1975. Famsa opened its first United States location in Los AngelesLos Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
in late 2000. Famsa intended to target the growing Hispanic American
Hispanic and Latino Americans
Hispanic or Latino Americans are Americans with origins in the Hispanic countries of Latin America or in Spain, and in general all persons in the United States who self-identify as Hispanic or Latino.1990 Census of Population and Housing: A self-designated classification for people whose origins...
population. In 2005 the company made $1 billion United States dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
s in sales; its United States sales made up 11.9 percent of its figure. In 2006 Famsa had 25 U.S. stores; during that year the company planned to open 25 additional United States locations by 2010. In early 2006 Famsa opened operations in Guatemala and planned to begin deliveries to El Salvador.