K. Anthony Hatoum: his retail stores from Turkey to Mexico
K. Anthony Hatoum founded a successful chain of discount retail stores in Mexico based on his experience in Turkey.
He also adapted for Mexico the deep discount concept, which was born in Germany after World War II. The Germans invented the concept because there were shortages and a need to bring value to the customer.
He is the founder, Chairman of the Board and Chief Executive Officer of BBB Foods Inc.
Hatoum began his professional career in the investment banking division of J.P. Morgan in New York and later as Senior Engagement Manager at McKinsey & Co. in New York.
He later joined Merrill Lynch’s global private equity group as a Managing Director, where he covered BIM, the heavily discounted Turkish food retailer.
Hatoum began his first in a series of entrepreneurial ventures in 1998, and also co-founded Advantage Card, a leading credit card, consumer finance and loyalty program in Turkey and then went on to co-found E-bebek, a leading baby products retailer in Turkey and one of Turkey’s first online retailers.
His academic profile? He holds a B.S. in Civil Engineering from Columbia University, an M.S. in Civil Engineering from the Massachusetts Institute of Technology and an M.B.A. from the Stanford Graduate School of Business.
K. Anthony Hatoum
In 2004, Hatoum decided to start a new hard discounter in Mexico based on his experience with BIM, the successful Turkish hard discounter, and his belief in the sustainable competitive advantages and financial attractiveness of the model.
After analyzing the prospects of several countries in Asia, Eastern Europe and Latin America, Hatoum chose to start this new business in Mexico.
Convinced of the country’s commercial advantages, he opened the first store in February 2005 in Mexico City.
The development of own-brand products, fundamental to offering high value to his customers, has been part of his business strategy since the founding of BBB Foods.
Employees
In May 2005, the company launched its first private label, «LactiBu,» a modified liquid milk formula.
As of September 30, 2023, BBB Foods had developed more than 93 different private labels, representing more than 385 references.
By December 31, 2023, the company had grown to become the leading hard discount retailer in Mexico, with 2,288 stores, 14 distribution centers and, as of September 30, 2023, approximately 21,950 employees.
