Americanas closes Submarino and Shoptime activities

The retail company announced this Tuesday (02) that it will end the activities of the Submarino and Shoptime brands, integrating its teams, customer networks and products into Americanas' e-commerce.

The New e-commerce

Submarino was founded in 1999 and has dominated the retail market ever since, standing out mainly in the sale of books. The company was sold to Americanas in 2006 and has since belonged to the company's collection of brands.

Shoptime was acquired in 2005, also at its peak. The company was known for its sales through its television channel, which was also shut down in June last year.

This integration has been taking place gradually since May, with the Americanas team taking partial control of both companies. The retailers' websites, apps and subscriptions will be completely shut down, with their activities merged with Americanas' services.

The company stated that the decision to unify the three companies “The goal is to strengthen the company’s digital presence through the Americanas brand. The decision was made in line with the new business strategy, which focuses on a more agile, profitable and efficient operation to offer an even more complete shopping experience.”

_{Logo of the companies Americanas, Shoptime and Submarino (photo: reproduction/Americanas/Shoptime/Submarino/CPG)}

Recovery strategies

In early 2023, the discovery of a hole of more than R$20 billion in accounting inconsistencies in Americanas' operations became public. The incident resulted in mass layoffs and store closures, generating a huge loss in the company's market value.

Furthermore, in January of this year, the company's brands were hacked, leaving its digital platforms offline for five days. The attack resulted in more than R$900 million in losses for the company, which was unable to close new sales during this entire period.

In a note, Americanas declared that “The integration accelerates its transformation plan and focus, offering new possibilities for customers, partners, suppliers, shareholders and investors.”

Featured photo: Americanas facade (reproduction/disclosure/Americanas/CNN)