Jerónimo Arango
Jerónimo Julio Arango Arias | |
|---|---|
| Born | 1927 Mexico |
| Died | 2020-04-04 Los Angeles, California, United States |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Co-founder of Aurrerá supermarket chain, founder of Grupo CIFRA |
Jerónimo Julio Arango Arias (1927 – 4 April 2020) was a prominent Mexican billionaire entrepreneur and one of the founding figures behind the Aurrerá supermarket chain, established with his brothers Manuel and Plácido. The Arango family has consistently ranked among the wealthiest in Mexico, with Jerónimo’s fortune valued at approximately US$4.6 billion in 2006 according to Forbes.
Career
Inspired by observing shoppers in New York queuing for bargains, Arango initiated the Aurrerá discount store concept in 1958. His dedication to affordable retailing enabled Grupo CIFRA, the family-owned business, to grow into Mexico’s leading supermarket operator, managing brands such as Aurrerá and Superama, along with ventures in dining (VIPs, El Portón) and apparel retail (Suburbia).
In 1991, Arango collaborated with Wal-Mart, facilitating the multinational’s entry into the Mexican market. This partnership led to rebranding the chain as Walmex, marking Wal-Mart’s initial expansion phase within Mexico. By 1997, the Arango family divested their controlling interest in CIFRA to Wal-Mart for a sum exceeding $2 billion.
Manuel Arango, Jerónimo’s brother, holds the presidency of the Mexican Center for Philanthropy and is actively involved in several charitable organizations. During the 1970s, he received two Academy Awards for a documentary depicting pre-Hispanic culture. His spouse, Marie-Therese Arango, serves as president of the Mexican Folk Art Museum.
Personal life
Prior to his passing, Arango lived in Los Angeles, California. He also possessed a holiday residence in Acapulco, known as the Marbrisa House, which was designed by John Lautner and is celebrated as a landmark of space age and googie architectural styles. Jerónimo Arango died on 4 April 2020 due to natural causes.