Pet Retail Market and Valuation Outlook
Physical Expansion
31
Is Consolidation Viable for Megastores?
Ok, we understand the the megastores will consolidate the industry, but is there physical space for them?
Petz and Cobasi are leading the consolidation by opening stores...
Stores per Year; [stores]
Petz Cobasi
133
160
144
...but the penetration is still far from cannibalization in the country...
Population Coverage; [mn of people]
27.8% of
total GDP
10.4
24.1% of
total GDP
63
59
46
42
37
34
108
105
96
90
80
76
8.2
15.6% of
total GDP
5.4
3,439 mn
GDP/Store
3,425 mn
GDP/Store
3,026 mn
GDP/Store
15'
16'
17'
18'
19'
20' 11/21
Petz
Cobasi
Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks
Source: Company's Data; Diário Oficial; IBGE; QGIS; Team 7
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