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Jüsto Raises $12 Million in Financing for Delivery-Only Stores

Jüsto Raises $12 Million in Financing for Delivery-Only Stores


MEXICO
Monday, July 6th, 2020

Grocery innovation and advancements continue to shake the industry, but a new concept in Mexico has blown us out of the water. Jüsto, a Mexico City-based, delivery-only grocery store chain, raised another $12 million in financing as it looks to expand its dark store format across the country.

Ricardo Weder, Founder and Chief Executive Officer, Jüsto“Despite COVID-19 dramatically accelerating the curve of adoption of e-commerce, the penetration rate of e-grocers is still less than 1 percent [in Latin America],” explained Jüsto Founder and Chief Executive Officer, Ricardo Weder, in a statement. “That means there’s an enormous opportunity—and all the right conditions—to disrupt the grocery industry in Latin America.”

The concept is also set to disrupt the grocery industry Stateside, too. Jüsto sells both local and international brands in a business model that many grocers here in the States have also started trialing, including Whole Foods, Walmart, and Albertsons. However, committing to delivery-only across its entire brand is both new and intriguing.

"From our store to your cupboard" embodies the motto of Mexico City-based, delivery-only grocery store chain Jüsto, which recently raised another $12 million in financing as it looks to expand its dark store format across Mexico

“We have these dark stores and hold the delivery,” remarked Manolo Fernandez, one of the founding members of Jüsto’s team. “At traditional supermarkets, the fill rates are lower and the product is less fresh. One of our core tenets is to reduce waste. We don’t have fruits and vegetables sitting outside in the store.”

As e-commerce opportunities surge and real estate becomes tight, will more dark store-only formats continue to gain traction? Deli Market News will follow the newswire to bring the latest.

Jüsto
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