iFood plans to increase operations in retail in 2020

Brazilian app iFood, which specializes in delivering ready-to-eat meals to consumers in large cities, is looking to expand its services to other areas and plans to increase operations in retail, chief financial officer Diego Barreto said on Friday.

The app, which is controlled by Brazilian company Movile and received an investment of $500 million last year from Naspers and Innova Capital, plans to increase to 1,000 from 200 the number of supermarkets served by its platform, reports Reuters.

The plan comes at a time when large supermarket chains such as GPA are investing to boost their online-ordered deliveries, and other companies such as urban mobility app 99 start a food delivery service, the 99 Food.

 

Barreto said iFood, which has been in the Brazilian market since 2011 connecting restaurants to consumers, wants to keep the focus on the food chain, and the increase in the supermarkets operation is part of that strategy.

The company said orders in November increased 116% to 26.6 million, despite rising competition.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Grameenphone brings in the iPhone 11 series in Bangladesh
AI Helps Organizations Grow Profits 80 Percent Faster
Arial Beel: A hub of natural beauty and resources in Bangladesh
“Parasite” wins Oscar for best picture and best international feature
Robi and MILVIK Bangladesh jointly promotes inclusive Digital Healthcare Service in Bangladesh
Bangladesh Under-19 team to be accorded heros welcome at home

Advertisement

News of the Month

December 2019
S M T W T F S
« Nov   Jan »
1234567
891011121314
15161718192021
22232425262728
293031  
Scroll Up
%d bloggers like this: