Elektra Group is a Mexican conglomerate dedicated to specialized trade and financial services in different countries of Latin America. Also, it is also one of the largest providers of non-bank loans in the United States.
With more than 7,000 points of operation in Mexico, the United States, Guatemala, Honduras, Panama and El Salvador, it is one of the leading stores in the country. Nevertheless, few know its history or the meaning of its name. we tell you.
The origin of the Salinas y Rocha store
Elektra dates back to 1906, when the company was founded Benjamin Salinas and Company. Although at that time the well-known yellow store with red letters did not exist, there was already an establishment where household goods were sold.
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Around 1917 the first store known as Salinas and Rochawhile a new business partnership between Salinas Westrup and Rocha Barocio arose. In Monterrey, on the other hand, the first fertilizer systems were born.
In 1933, Salinas y Rocha opened its doors in the Mexico City. In those years, it served as one of the favorite stores for the consumption of the wealthy class of that time.
For 1958, Hugo Salinas Rocha and the American Donald Stoner establish the Radiotechnica SAwhich at first was an exclusive radio factory, but later expanded its product catalog.
In 1950 the store was finally opened Elektra Mexican -with the passage of time simply Elektra—and its impetus was thanks to innovation in radios, then televisions, and finally household appliances. It is said that he even served as a key piece of modernity in the country.
The stores handled monthly and biweekly credits. However, in 1987, Ricardo Salinas Pliego came to Elektra and proposed a model focused on weekly creditssomething that is still valid to this day.
Although the origin of the name and its meaning have not yet been verified, it is assumed that Elektra alludes to the light or at Energy, something with which they worked at the beginning: radios and televisions. The color would then be to reinforce this idea.
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