The first store of the “Candando” (embrace) hypermarket chain owned by Angolan group Contidis is due to open on 10 Mayat a shopping centre in Talatona,Luanda, the group said in a statement issued in Luanda.
The Contidis group, which will manage the chain of hypermarkets, was presented in September 2015 in Luanda by Miguel Osorio, former director of Portuguese group Sonae and now the Angolan project’s director, after the end of the partnership of Angolan businesswoman Isabel dos Santos with the Portuguese retail group.
This first store has an area of 10,000 square metres, and the group, which is 100 percent owned by Santos, plans to open a total of ten stores over the next five years, with an estimated investment of US$400 million.
The statement said “Candando” will be the newest food and non-food distribution brand in Angola and there are plans for the chain to become the country’s largest retail group.
Logistics, with the installation of a proper base in Luanda, as well as the support and promotion of a network of national producers are some of the objectives set. (macauhub/AO/PT)