Early Life
Rubén Coppel Luken, born into the Coppel family, played a significant role in the family's business from a young age. The Coppel family's entrepreneurial journey began in 1941 in Culiacán, Sinaloa, Mexico, with Luis Coppel Rivas and his son Enrique Coppel Tamayo establishing a small retail shop. This initial venture, known as "El Regalo," focused on selling affordable items such as radios and watches, targeting local low-income families. This humble start laid the foundation for what would become Grupo Coppel.
Rise to Success
The success of Grupo Coppel is rooted in its innovative approach to retail and finance. The company's strategic use of credit, particularly its financing of items with weekly payments, enabled it to cater to a wide customer base, especially those with limited access to traditional banking services. This model fueled the company's expansion, leading to the establishment of numerous stores across Mexico. Coppel's expansion strategy included acquiring the shoe store chain, Calzados Canada, in 2002, and Viana in 2015, broadening its market reach and product offerings.
Key Business Strategies
Grupo Coppel's success has been built upon several key business strategies. A significant emphasis has been placed on customer credit, which forms a large part of its operations. Furthermore, Coppel has invested heavily in digital transformation, aiming to increase online sales through its e-commerce platform, Coppel.com. The company has expanded into financial services through BanCoppel, a banking arm that caters to the unbanked population, and Afore Coppel, a pension fund business, further diversifying its revenue streams.
Philanthropy
Rubén Coppel Luken is involved in philanthropy through the initiatives of Grupo Coppel and the Coppel family. The company established Fundación Coppel, which focuses on education and leadership, economic and social development, public spaces and culture, and disaster relief. Coppel has also partnered with other organizations to create donation funds, which provide protective equipment to medical personnel. Fundación Letty Coppel, a separate entity, focuses on supporting those in need through social assistance and community development programs.
