“We didn’t believe in this separation because we just thought it would increase costs,” Trajano said.

The firm invested in an integrated distribution and transportation center, in digitization and innovation laboratories. “Today, we are a technological firm, visited by people from all over the world,” she said. The market eventually came around to the integrated model, and now competitors are trying to catch up while Magazine Luiza thrives, with more than 900 stores, 25,000 employees and a third of its sales coming from e-commerce.

Trajano declined to talk about her preferred candidate in the presidential election this month. But there was one point she wanted to make: “We don’t like any speech, from a politician or not, that degrades race or gender diversity, that degrades women.”

This article was provided by Bloomberg News.

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