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Grupo Famsa is a holding company comprised of 15 inter-related subsidiaries. The following chart shows our corporate structure and subsidiaries:
|Grupo Famsa’s Subsidiaries
As of December 31, 2018
|Retail Operations||Holding (%)|
|Famsa Mexico, S.A. de C.V.||99.99|
|Impulsora Promobien, S.A. de C.V.||99.04|
|Famsa, Inc (Famsa USA)||100.00|
|Corporacion de Servicios Ejecutivos Famsa, S.A. de C.V.||99.99|
|Corporacion de Servicios Ejecutivos, S.A. de C.V.||99.99|
|Promotora Sultana, S.A. de C.V.||99.99|
|Suministro Especial de Personal, S.A. de C.V.||99.99|
|Garval Servicios de Asesoría Empresarial, S.A. de C.V.||99.99|
|Manufacturing & Others|
|Auto Gran Credito Famsa, S.A. de C.V.||99.99|
|Expormuebles, S.A. de C.V.||99.96|
|Mayoramsa, S.A. de C.V.||99.88|
|Verochi, S.A. de C.V.||99.99|
|Geografia Patrimonial, S.A. de C.V.||99.99|
|Corporacion de Servicios para la Administracion de Valores, S.A. de C.V.||99.80|
|Banco Ahorro Famsa, S.A., Institucion de Banca Multiple (BAF)||99.99|
The following subsidiaries are responsible for the operation of 402 retail stores and 22 personal loans branches distributed throughout Mexico and the United States:
Famsa Mexico, S.A. de C.V., manages 380 retail stores in Mexico, as of December 31, 2018.
Famsa Inc., manages 22 retail stores and 21 personal loan branches in the United States. In August 2011, Famsa Financial, Inc was established to grant personal loans in Texas. In order to carry out this endeavor, Grupo Famsa obtained 36 licenses from the Texas Office of Consumer Credit Commissioner (OCCC).
Impulsora Promobien, S.A. de C.V., runs Grupo Famsa’s credit program for employees of affiliated companies.
Auto Gran Credito Famsa, S.A. de C.V., engaged in the personal car loan business.
Verochi, S.A. de C.V, engaged in the purchase, sale and distribution of footwear, as well as related products directly or through third parties.
Management Services Subsidiaries
Promotora Sultana, S.A. de C.V., Corporacion de Servicios Ejecutivos, S.A. de C.V., Garval Servicios de Asesoria Empresarial S.A. de C.V., Suministro Especial de Personal, S.A. de C.V and Corporacion de Servicios Ejecutivos Famsa, S.A. de C.V. are responsible for providing consulting services and other services, mainly in the areas of administration, technical assistance, financial planning, programming, systems, budgeting, accounting, auditing, computing, research, data mining, market intelligence, marketing, systems implementation, monitoring, and public and industrial relations.
Expormuebles, S.A. de C.V., engaged in the manufacture, sale and distribution of furniture and related products.
Mayoramsa, S.A. de C.V., engaged in the wholesale and distribution of household appliances and furniture through 15 warehouse clubs.
Banco Ahorro Famsa, S.A., Institucion de Banca Multiple, offers financing and credit services to the Company’s retail customers. Banco Famsa is administratively supported by its subsidiary Cefinpro, S.A. de C.V.
Geografia Patrimonial, S.A. de C.V., primarily engaged in leasing real estate to related parties. It was incorporated and started operating in November 2009.
Corporacion de Servicios para la Administracion de Valores, S.A. de C.V., engaged in the offering of securities safekeeping and custody services, as well as the sale of electronics and jewelry.