Manuel Arango Arias

About Me

Manuel Arango and his brothers, Jeronimo (d. 2020) and Placido (d. 2020) are credited for building one of Mexico's first major retailers and helping establish Walmart's presence in the country. In 1958, as sales of their father's clothing factory dwindled, the trio founded the bargain retail chain Central de Ropa, later renamed Grupo Cifra. The company owned the Bodega Aurrera stores, selling everything from groceries to home appliances. The Arango's took the company public on the Mexican Stock Exchange in 1977. Fourteen years later, they embarked on a 50/50 partnership with Walmart to expand across Mexico. In 1997, Walmart bought a majority stake in Grupo Cifra for $1.8 billion and took over Walmex (Walmart de Mexico).