Grupo Coppel's $337 Million Expansion Plan

Grupo Coppel announces a $337 million investment to open over 100 new stores and remodel 100 existing ones in Mexico. The initiative aims to create 5,000 direct jobs and 20,000 indirect jobs, focusing on Mexico City and several Mexican states.

Mexican retailer Grupo Coppel announced plans to invest more than six billion Mexican pesos ($337 million) on Wednesday, aiming to open over 100 new stores and remodel 100 existing ones.

This expansion will create 5,000 direct jobs and 20,000 indirect jobs, according to the company. The investment targets Mexico City, the State of Mexico, and the states of Chiapas, Michoacan, Morelos, Oaxaca, Puebla, and Veracruz.

Grupo Coppel also has operations in Argentina and Brazil. The exchange rate as of the announcement was $1 = 17.8273 Mexican pesos.

(With inputs from agencies.)