What is Grupo Elektra, and where does it operate?


Quick Answer

Grupo Elektra is a Mexican company that offers financial services and operates retail stores. It does business in the United States, Mexico and Central and South America.

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Full Answer

On the financial services side, Grupo Elektra operates the Punto Casa de Bolsa stock brokerage firm, created in 2012 after the company purchased Advance America, an American company specializing in short-term loans to consumers. As of March 2015, Advance America runs more than 2,400 stores in 29 U.S. states.

At its retail end, Grupo Elektra targets low- and middle-income consumers in the offering of furniture, household appliances, computers, telephones and other goods. Services provided by the chain store include the sale of extended product warranties and electronic money transfers.

In addition to Mexico and the U.S., Grupo Elektra also operates more than 6,000 stores in the South American countries of Brazil and Peru and Central American nations Guatemala, Honduras, Panama and El Salvador. The company states it attracts customers through strong marketing campaigns and a modern distribution network.

Grupo Elektra is part of Grupo Salinas, which includes the Azteca and Azteca America television networks, Seguros Azteca insurance firm and the Italika motorcycle brand. It trades on the Latibex stock market in Spain under the ticker symbol 'XEKT.'

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