Jerónimo Arango facts for kids
Quick facts for kids
Jerónimo Arango
|
|
|---|---|
| Born | 1927 Mexico
|
| Died | April 4, 2020 (aged 92–93) |
| Nationality | Mexican |
| Occupation | Co-founder, Aurrerá |
Jerónimo Julio Arango Arias (1927 – 4 April 2020) was a very successful Mexican businessman. He helped start the Aurrerá supermarket chain with his younger brothers, Manuel and Plácido. For many years, they were known as some of the richest people in Mexico. In 2006, the magazine Forbes estimated his wealth at about US$4.6 billion.
Contents
Starting a Business: The Aurrerá Stores
Jerónimo Arango started his Aurrerá discount stores in 1958. He got the idea after visiting New York. There, he saw many people waiting in long lines to get good deals. He decided to open stores in Mexico that focused on selling things at lower prices. These stores became very popular.
Growing the Company: Grupo CIFRA
Over time, Jerónimo Arango's family company, Grupo CIFRA, grew very large. It became the biggest supermarket chain in Mexico. This included the Aurrerá and Superama stores. Grupo CIFRA also owned restaurants like VIPs and El Portón. They even had fashion stores called Suburbia.
Partnering with Walmart
In 1991, Arango made a big partnership with Walmart. This deal helped bring Walmart retail stores to Mexico. The Mexican chain was later renamed Walmex. It became the starting point for Walmart's growth across Mexico. By 1997, the Arango family sold most of their shares in CIFRA to Walmart. This deal was worth more than $2 billion.
Manuel Arango's Contributions
Jerónimo's brother, Manuel Arango, is also very active. He leads the Mexican Center for Philanthropy. This organization helps many non-profit groups. Manuel also won two Academy Awards in the 1970s. He won them for producing a famous film about ancient Mexican life. Manuel's wife, Marie-Therese Arango, is the president of the Mexican Folk Art Museum.
Jerónimo Arango's Personal Life
Before he passed away, Jerónimo Arango lived in Los Angeles, California. He also had a vacation home in Acapulco, Mexico. This house was designed by the famous architect John Lautner. The house is known as the Marbrisa House. It is seen as an important example of Space Age and googie design. Jerónimo Arango died on 4 April 2020 from natural causes.
See also
In Spanish: Jerónimo Arango para niños
