Mexico: Forward's March

On a visit to New York in 1956, the young Mexican was fascinated by its bustling discount stores, spent most of his time studying their price cuts and pragmatic merchandising. "This is a revolution that is here to stay.'' Jeronimo Arango Jr. wrote his two younger brothers in Mexico City. "We'll go into it when I get back." They did, opening Latin America's first tienda de descuento in Mexico City. Today, having been paid the flattery of imitation by dozens of other Latin American stores, the pioneering Arango brothers—Jeronimo, 37, Placido, 32,...

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