Grupo de Narváez

Grupo de Narváez (GDN) is a multinational holding company headquartered in Argentina and present in Argentina, Uruguay and Ecuador. Its self-description is unambiguous: "Fuimos, somos y seremos Retailers" — "We were, are and will be retailers" — and its stated purpose is to improve the quality of life of its customers and their communities by creating relevant experiences with honest brands. The group is privately held and controlled by the de Narváez family, whose business lineage reaches back through the Steuer family of Bohemia to an 18th-century liquor and essences firm, and through the twentieth-century Tía retail brand founded by Karel Steuer in Colombia in 1940. GDN's modern identity was shaped from 1985, when Francisco de Narváez, a descendant of Doris Steuer, took the chairmanship and began a phase of acquisitions and expansion, particularly in Uruguay and Ecuador. Over the following decades the group bought and sold retail operations across Latin America: it exited Peru in the 1980s, sold its Argentine Tía division to Grupo Exxel in 1999, closed its Colombian operations in 2017, and in 2020 acquired Walmart's Argentine business — including the Chango Más banner — for approximately US$44 million, replacing the Walmart name in the country with Hiper Chango Más and Super Chango Más. Today the group's portfolio is organised around two main retail families plus a set of complementary businesses. The Chango Más family in Argentina spans hypermarkets, supermarkets, e-commerce (MâsOnline), pharmacy (Mâs Farma) and vehicle maintenance (Mâs Autocenter). The Tía family in Ecuador and Uruguay includes the Tiendas Industriales Asociadas (Tía) retail chain, the Más loyalty programme and the Plaza Tía shopping centre. Other holdings include Más Ahorro convenience stores in Ecuador, Multi Ahorro Hogar appliance retail and Frontoy wholesale distribution in Uruguay, Punto Mayorista wholesale in Argentina, the San Roque pharmacy chain in Uruguay, the Ta-Ta wholesale brand, the Basic & Simple (BAS) clothing stores in Uruguay and Ecuador, and the Wóòw! e-commerce platform in Uruguay. Beyond retail, GDN has diversified its investments. It owned the Argentine economic newspaper El Cronista from 2006 until 2021, when it sold it to Grupo América for US$6 million. In 2017 it acquired the Uruguayan pharmacy chain San Roque for US$8 million, and in 2018 it bought the whole of the Uruguayan e-commerce platform WoOW!. In 2024 it sold land adjacent to the Alto Avellaneda shopping centre to IRSA for US$12.2 million, while the Chango Más supermarket on the site continues to operate under a lease. The group positions itself as a retailer first and foremost, with a portfolio of "honest brands" aimed at everyday consumers in the Southern Cone and Ecuador. It is a private, family-controlled conglomerate rather than a listed company, and its public communications emphasise customer experience, community impact and multi-format retail reach.

The origins of Grupo de Narváez lie with the Steuer family, who came from the Kingdom of Bohemia. In 1724, during the Industrial Revolution, they founded Steuer & Friedlander, a company dedicated to the production of liqueurs and essences. In 1926 they established a factory in Bucharest, then part of the Kingdom of Romania. After the 1929 crash, the family diversified by creating the Te-Ta department store in Prague. In 1936 they opened a branch in Belgrade under the name Ta-Ta. With the outbreak of the Second World War, Karel Steuer emigrated to Colombia, where in 1940 he opened the first retail store under the Tía brand, a phonetic adaptation of the original Czech name. Between 1946 and 1960 the brand expanded across Latin America, establishing operations in Buenos Aires, Montevideo, Lima and Guayaquil. In 1985 Francisco de Narváez, a descendant of Doris Steuer (sister of Karel), assumed the presidency of the board. Under his leadership the group entered a phase of acquisitions and expansion, particularly in Uruguay and Ecuador. During the 1980s, amid the regional economic crisis, Tía's operations in Peru were closed. In 1999 the Argentine division was sold to Grupo Exxel for US$650 million. In 2017 the Colombian operations were also closed. The group diversified its investments outside the retail sector. In 2006 it acquired the Argentine economic newspaper El Cronista, which it held until 2021, when it sold it to Grupo América for US$6 million. In 2017 it acquired the Uruguayan pharmacy chain San Roque for US$8 million. The following year it bought the entirety of the Uruguayan e-commerce platform WoOW!. In 2020 the group acquired Walmart's operations in Argentina, including the local brand Chango Más, created by Walmart in 2007. The acquisition, valued at approximately US$44 million, involved the withdrawal of the Walmart brand from the country and its replacement by the names Hiper Chango Más and Super Chango Más. In 2024 it sold land adjacent to the Alto Avellaneda shopping centre to IRSA for US$12.2 million; the Chango Más supermarket on that site continues to operate under a lease contract. Today GDN describes itself as a retailer and operates a portfolio of brands across Argentina, Uruguay and Ecuador, spanning supermarkets, hypermarkets, pharmacies, e-commerce, wholesale distribution, clothing and vehicle services.

• 2024

  Sells land adjacent to Alto Avellaneda shopping centre to IRSA for US$12.2 million.

• 2021

  Sells El Cronista to Grupo América for US$6 million.

• 2020

  Acquires Walmart's Argentine operations, including Chango Más, for approximately US$44 million.

• 2018

  Buys the entirety of Uruguayan e-commerce platform WoOW!.

• 2017

  Acquires Uruguayan pharmacy chain San Roque for US$8 million; closes Colombian operations.

• 2006

  Acquires Argentine economic newspaper El Cronista.

• 1999

  Argentine Tía division sold to Grupo Exxel for US$650 million.

• 1985

  Francisco de Narváez assumes the presidency of the board, beginning a phase of acquisitions and expansion.

• 1940

  Karel Steuer opens the first Tía retail store in Colombia.

• 1936

  Ta-Ta branch opens in Belgrade.

• 1926

  Steuer family establishes a factory in Bucharest.

• 1724

  Steuer family founds Steuer & Friedlander, producing liqueurs and essences.

A family-controlled multinational retail holding company focused on everyday consumer brands in Argentina, Uruguay and Ecuador, describing itself as retailers who improve customers' quality of life through honest brands.

• Chango Más

  Supermarket brand in Argentina, acquired from Walmart in 2020.

• Super Chango Más

  Supermarket format in Argentina.

• Hiper Chango Más

  Hypermarket format in Argentina.

• MâsOnline

  E-commerce platform for the Chango Más family in Argentina.

• Mâs Farma

  Pharmacy format in Argentina.

• Mâs Autocenter

  Vehicle maintenance service in Argentina.

• Tiendas Industriales Asociadas (Tía)

  Retail chain in Ecuador and Uruguay.

• Más

  Benefits programme for Tiendas Tía.

• Plaza Tía

  Shopping centre in Ecuador or Uruguay.

• Más Ahorro

  Convenience store in Ecuador.

• Multi Ahorro Hogar

  Home appliance retailer in Uruguay.

• Frontoy

  Wholesale distributor in Uruguay.

• Plus

  Discount programme for Ta-Ta, BAS and Multi Ahorro Hogar stores in Uruguay.

• Punto Mayorista

  Wholesale distributor in Argentina.

• San Roque

  Pharmacy chain in Uruguay.

• Ta-Ta

  Wholesale distributor in Uruguay.

• Basic & Simple (BAS)

  Clothing stores in Uruguay and Ecuador.

• Wóòw!

  E-commerce platform in Uruguay.

1. 1GDN Groupgdngroup.com
2. 2Grupo de Narváezwikidata.org
3. 3Grupo de Narváezes.wikipedia.org