Mexico’s Grupo Axo takes over Nike in Argentina

Mexico’s Grupo Axo acquired Nike’s operations in Argentina, Chile and Uruguay in a deal that still needs Argentine government approval. The agreement figure was not disclosed but could exceed $ 200 million. Axo operates 800 stores and owns Promoda, an off-price retailer, and Privalia, a multibrand e-commerce platform. It also has exclusive rights to more than 30 brands, including Calvin Klein, Guess, Speedo and Tommy Hilfiger.

Source: BA Negocios