Sonder, LG Electronics, Grupo Codere, Lana, The Not Company, Disney+ and more brands targeting the Latin American consumer right now.
Grupo Codere has confirmed the appointment of Shackleton as its new creative marketing agency. Shackleton secured the multinational account following a competitive pitch undertaken by Codere in which the gambling group solicited agencies to draft ‘360 advertising campaigns repositioning its legacy brand to a global audience’. Codere seeks to refresh its image within its home market of Spain, whilst expanding its public profile across the firm’s target South American growth markets. Codere’s core business is the management of casinos, bingo halls, betting facilities, slot machine halls, and racetracks in Spain, Italy, Mexico, Argentina, Brazil, Colombia, Panama and Uruguay. Announcing Shackleton as new creative lead, Codere confirmed that it would imminently launch a new multimedia advertising campaign in Mexico and Spain, with its new creative concept to be rolled out to ‘other Latin American markets’. Codere is a unit of Accenture Interactive. Its accounts include UBER Spain, El Pais, Durex, EuroMillions and Max Factor. Pablo Alzugaray, Shackleton CEO, stated: “There are few categories as vibrant as sports betting, and no brand in it is as dynamic as Codere. A huge honor and opportunity to contribute to the construction of its brand inside and outside of Spain.” Shackleton takes control of Codere’s multinational advertising account as the Spanish gambling group restructures its operating units having been approved a further $300m credit extension by its existing debt-holders – a transaction that saw Codere avoid bankruptcy. Carlos González de las Cuevas, Marketing Manager at Codere, added: “at Codere we put creativity at the center of our communication and that makes us different in such a competitive sector. We are sure that together with Shackleton we will surprise all the players in Spain and Mexico with our next campaign .”
Disney+ will continue its global expansion by entering Latin America on November 17. Disney confirmed the date for its SVOD (Subscription Video on Demand) launch in Latin America – including Brazil – and the Caribbean via social media. Disney Plus, or better known as Disney +, is the new streaming service that began to provide service in the United States last November 2019. Disney CEO Bob Chapek said during the company’s recent Q2 earnings call that the streamer would launch in the region in November, but did not mention a date. The roll-out comes at a time of rapid expansion for Disney+, with the SVOD launching in 5 September in Indonesia via Hotstar and in Portugal, Belgium, Finland, Iceland, Luxembourg, Norway, Sweden and Denmark on September 15. With its largest money-making segment – parks and experiences – being critically hit by the coronavirus pandemic, Disney is increasingly looking to its direct-to-consumer division to help fill the gap. The company now has 60 million subscribers for Disney+ and more than 100 million global SVOD customers across its offering, which also includes Hulu and ESPN+. HBO Max, a competing OTT service owned by Time Warner will be launching in Latin America in 2021.
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LG Electronics announced that its mass-market premium smartphone Velvet will be launched in Latin America countries starting this month. The LG Velvet hit the shelves in Mexico on Sept. 10 and in Brazil on Sept. 17. The handset will also be available in Colombia, Peru, Chile and Panama in October, and Argentina in November. LG said the 4G model of the smartphone will be sold in Central and South American nations.The Velvet made its debut in South Korea in May with a price tag of 899,800 won (US $760). So far, the company has released the smartphone in 16 countries. LG said it plans to sell the Velvet in 30 countries by the end of this year.
The Not Company
Chilean food technology startup The Not Company (NotCo) announced that it closed a US $85 million Series C funding round. Founded in 2015 by biotech engineer Matías Muchnick, biochemist Pablo Zamora, and computer scientist Karim Pichara, NotCo’s products rely on “Guiseppe”—a discovery platform that identifies plant-based proteins that can mimic animal products. Using this technology, the company currently makes NotMayo, NotMilk, NotIceCream, NotBurger, and NotMeat. This year, NotCo partnered with Papa John’s and Burger King to bring its plant-based meat products to their menus in Chile. “We are pleased to partner with a true disruptor in the food-tech industry,” said Ramiro Lauzan, Partner at L Catterton Latin America—a private equity firm that co-led the investment. “NotCo is pursuing a fundamentally original way of replacing animal-based foods with more sustainable alternatives through the application of food science and innovative technology. By leveraging our experience in ‘better for you’ businesses around the world, and working alongside NotCo’s talented team, we look forward to materializing the company’s successful expansion into the US market.” NotCo’s new funding round builds on a previous US $30 million investment backed by Kaszek Ventures, The Craftory, and Bezos Expedition—a fund controlled by Amazon founder Jeff Bezos.
San Francisco -headquartered startup Sonder has opened its first location in Latin America, in the Condesa neighbourhood in Mexico City. The building will accommodate 16 apartment-style spaces, providing what Sonder calls “a next-generation hospitality option, with top tier design, comfort and cleanliness measures — including a zero-contact check-in process”. Roberto Fernández del Castillo, general manager of Sonder in Mexico, said: “We are very happy to announce the launch of Sonder in Mexico, as the first city in Latin America in which we are starting operations. We bring solid and long-term plans that will undoubtedly benefit our guests, but will also promote the recovery of local economies and the reactivation of the tourism sector in Mexico.”
Lana, a new startup based in Madrid, is looking to be the next big thing in Latin American fintech. Founded by serial entrepreneur Pablo Muniz, whose last business was backed by one of Spain’s largest financial services institutions, BBVA, Lana is looking to be the all-in-one financial services provider for Latin America’s gig economy workers.” Workers in gig economy marketplaces in Latin America often don’t have bank accounts and are paid through the apps on which they list their services in siloed wallets that are exclusive to that particular app. What Lana is hoping to do is become the wallet of wallets for all of the different companies on which laborers list their services. Frequently, drivers will work for Uber or Cabify and deliver food for Rappi. Those workers have wallets for each service. Lana wants to unify all of those disparate wallets into a single account that would operate like a payment account. These accounts can be opened at local merchant shops and, once opened, workers will have access to a debit card that they can use at other locations. Working with companies like Cabify and other undisclosed companies, Lana has plans to roll out in Mexico, Chile, Peru and, eventually, Colombia and Argentina. Eventually, Lana hopes to move beyond basic banking services like deposits and payments and into credit services. Already hundreds of customers are using the company’s service through the distribution partnership with Cabify, which ran the initial pilot to determine the viability of the company’s offering. Along with a few other investors, venture capital firm Base 10 put in US $12.5 million to finance Lana as it looks to expand. It’s a market that has few real competitors. Nubank, Latin America’s biggest fintech company, is offering credit services across the continent, but most of their end users already have an established financial history.