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Sears México store in Mexico City
|Headquarters||Mexico City, Mexico|
|Carlos Hajj Aboumrad, (CEO)|
|Products||Clothing, footwear, bedding, furniture, jewelry, beauty products, appliances, housewares, tools, and electronics.|
Grupo Carso (2007–present)
On February 27, 1947, the first Sears in Mexico City opened, revolutionizing the traditional systems of commercialization and massive exhibition of merchandise, establishing fixed and competitive price policies, instead of implementing the traditional bargaining system. The President who supervised its construction and management was retired Brigadier General Walter J. Reed who later was sent to Caracas, Venezuela where he repeated his Mexico City store for Venezuela. He then retired to St. Thomas, U.S. Virgin Islands where he supervised the business expansion of the islands.
From 1955 to 1993, Sears opened stores throughout Mexico.
On April 2, 1997, Sears, now owned by Sears Holdings, formed a strategic alliance with Grupo Carso, owned by Mexican businessman Carlos Slim Helú, through which Sears agreed to sell 85% of its share of Sears Mexico to Grupo Carso, until 1997. As of 2007, Grupo Carso owned a 100% share of the company. Even though Sears unveiled a new lowercase logo in the United States in 2010, Sears Mexico still retains the pre-2004 logo (in red instead of blue) that was last used in Sears Canada's logo until 2004.
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