Sonae on Thursday introduced a new image, incorporating a new logo, new values and also a name change for key business areas, with the Sonae brand disappearing in the core business.
Thus, the retail area, until now Sonae MC, is just MC, and the same is happening in the shopping mall area, which is now only Sierra. The biggest changes are taking place in financial services, with Sonae FS taking the name Universo (the card brand launched by the group); in the fashion trade, which passes on to Zeitreel; And also in managing investments in technology, which is changing to Bright Pixel. In the field of electronics retail, the group, which owns PÚBLICO, has not changed the name, while maintaining the Worten brand.
Changing names or brands is part of the strategy in recent years of positioning Sonae more and more as a holding manager, and to a lesser extent as a full owner of the business, which has classified it as a conglomerate, a status that is not always appreciated. financial markets.
In a statement, the company led by Claudia Azevedo posits the same thing: “As a holding company that operates a diversified portfolio of businesses, Sonae increasingly takes on the role of guiding, challenging, and driving value creation based on the positive impact of business, people, communities, and the planet.”
One of the latest companies that Sonae lost complete control over was in the retail area, the group’s most profitable business, with Sale of 24.99% of former Sonae MC to CVC Strategic Opportunities.
Sierra is also 80% owned by Sonae SGPS (Portugal) and 20% b Grosvenor Group Limited, but the ownership of malls and other assets is shared by a number of partners. This company increasingly assumes itself as an investment fund manager and service provider.
But there are other companies in which Sonae has a minority stake, such as the creation with three other Iberian Sports Retail Group (ISRG) brands, in the sports retail business, where it holds a 30% stake.
According to the group, the new image and new values result from “thinking about the future of Sonae and the rapidly changing world in economic, technological, social and environmental dimensions, leading the group to assume the will to do even more and better.”, the company offers in a statement.
Change with a view to “strengthening the commitment to people and the planet, and maintaining the mission of creating long-term economic and social value.”
And this is how the last motto – “improving life” – becomes “shaping tomorrow”, as Sonae justifies.
“Everything we do is based on our values. It is our heritage and the principles that guide us for the future. They define the way we work and our culture. A culture that adapts and evolves, without losing the pillars that distinguish it”, says Claudia Azevedo, in the statement.
“We Drive with Impact,” is the number one value we now assume and intends to translate transforming ambition into action, and profound impact now and in the future. This is followed by the phrase “We Drive Tomorrow”, with a focus on entrepreneurship, among others.
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