A Swedish giant arrived in Argentina and seeks to grow in the business against insecurity. Assa Abloy opened its first location in the City of Buenos Aires where it will sell security products Yalean American brand that it bought 13 years ago and is aimed at residential customers.
Invested US$ 200,000 in this first branch in the Recoleta neighborhood, located in Arenales and Uruguay, which it considers a strategic location and is part of its regional expansion plan. It is already in Colombia, Peru and Guatemala, and It will soon land in Costa Rica and Ecuador.
In 2023, he started selling online for its own e-commerce and Mercado Libre. Compared to July of last year, Sales grew by 85%. “The results were very good, it led us to accelerate expansion“, he pointed Julian CarrascalMarketing Manager of Assa Abloy Latin America
Before, the company had tried to enter the Argentine market with a physical locationwithout success. Now, he believes that the conditions are metespecially, for the easing of the cepo.
“Attempts had been made in the pastThe first one was three years ago. Conditions in Argentina have changedis evident in the international panorama. We find this context attractive because of the economic opening“, Carrascal acknowledged.
For now, The company will import all the merchandise which will be sold both in the Federal Capital and in the Interior through its dealers from Rosario, Córdoba and Mendoza. In addition to direct sales to consumers, it will reach hardware stores and big chains like Home Center y EasyIn the future, he does not rule out adding local production or other branches. In the region, it has three factories in Brazil, Chile and Colombia.
It will offer traditional and digital locks that open with a card, numeric code, fingerprint or from a cell phone, with the Yale app. Some bring combined systems with key to reinforce security. It will also sell specific electronic locks for doors of internal spaces of the home and furniture. In addition, you will have Handles, padlocks, safes with technology, alarms and an institutional line for business.
“Yale is one of our most important brands. It was born in the United States 180 years ago from an invention that is still in use: the padlock cylinder system. We acquired it 13 years ago. At this stage, We will focus on the residential market. “We find it interesting because of the size of the population,” Carrascal said.
The problem of insecurity is a key factor for growth for the brand. “We have products for different needs, in order to combat this problem. We identified that it is a market where there is little supply with innovation and digitalization. We launched Discounts up to 50% for the launch. We are looking to expand the audience,” he said.
“Our application, Yale Connect, is mounted on our own servers and from Argentina already We export knowledge economy services: Our team of developers is made up of 20 local professionals who assist the region,” the executive added.
Founded in 1994 and with more than 400 subsidiaries in 70 countries globally the Nordic giant employs 48,500 workers and generates annual revenues of US$9.9 billion. Plans to continue growing with a purchase agreement of the Swiss technology brand Removed 1,280 employees y valued at 340 million euros.