Raphael Group

Name

Raphael Group

Legal name

Grupo Raphael

Website

https://gruporaphael.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Multi-format retail (hypermarkets and department stores)

NAICS

Department Stores (4551)

SIC

Retail-Department Stores (5311)

akta.pro primary industry

Flagship Luxury Department Stores (CRAGADAA)

Keywords

• Retail hypermarkets
• Department stores
• Consumer goods retail
• Loyalty rewards programs
• Panama retail

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices13 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Retail Sales - El Fuerte Hypermarkets: Revenue generated from the sale of consumer goods and groceries through El Fuerte hypermarket chain. Multiple store locations across Panama serve individual consumer/family customers with low-price positioning ('Precios bajos para siempre').
2. Retail Sales - La Onda Department Stores: Revenue from department store retail operations under the La Onda brand, offering a wide variety of articles for the family and home across multiple store locations.
3. Loyalty Program - Shopi: Shopi is a rewards and loyalty program that provides customers with exclusive benefits across Grupo Raphael's store brands. The program drives customer retention and repeat purchases.

Distribution channels3 records

Marketing channels4 records

Core offering

Grupo Raphael is a Panamanian holding company that operates physical retail storefronts across Panama through two principal consumer-facing brands: El Fuerte hypermarkets (groceries and consumer goods) and La Onda department stores (general merchandise and household items). The group also runs Shopi, a proprietary loyalty and rewards program available via mobile app and in-store service centers, driving repeat purchases across its retail network.

Product overview

Grupo Raphael is a holding company operating across retail, real estate, construction, and financial services sectors. The core retail operations consist of two principal brands: El Fuerte hypermarkets (supermarkets) and La Onda department stores, both serving customers in Panama with multiple physical locations. The company also operates Shopi, a proprietary loyalty and rewards program available via mobile application, which integrates with the retail brands to provide customer engagement and exclusive benefits. The portfolio comprises primarily brick-and-mortar retail operations supported by a digital loyalty component.

Differentiator

Problem solved

Functional benefit

Products and services

• El Fuerte (Hypermarket Chain) Hypermarket chain under the El Fuerte brand offering a wide variety of groceries and consumer goods at competitive low prices to families in Panama. Operates 6 physical locations across Panama City (San Miguelito, Westland Mall, Villa Zaíta, 24 de Diciembre, Burunga) and David, Chiriquí (Federal Mall).
• La Onda (Department Store Chain) Department store chain under the La Onda brand offering a diverse selection of products for the entire family and home, including general merchandise and household items. Operates 6 physical locations across Panama City (Los Pueblos 2000, Villa Lucre, Calidonia, San Miguelito, Dorado, and Los Andes Mall).
• Shopi (Loyalty and Rewards Program) Rewards and loyalty program that provides customers with exclusive benefits and access to special offers across Grupo Raphael's El Fuerte hypermarkets and La Onda department stores. Accessible as a mobile application for Android and iPhone and at in-store customer service centers, driving customer retention and repeat purchases.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Falabella: Major Latin American department store chain operating across Chile, Peru, Colombia, and others. Comparable department store format to La Onda at vastly larger regional scale.
• Cencosud: Chilean-based multi-format Latin American retailer operating supermarkets (Jumbo), department stores (Paris), and home improvement. Comparable multi-banner strategy mirroring El Fuerte + La Onda at regional scale.
• Walmart de México y Centroamérica: Largest multi-format retailer in Mexico and Central America with hypermarkets, supermarkets, and discount stores. Direct competitive incumbent for both El Fuerte and La Onda across price-sensitive Panamanian consumers.
• Ripley: Department store chain operating across Chile, Peru, and Colombia. Comparable mid-market department store format with multi-category family/household offering akin to La Onda.

Direct peers

• Grupo Melo: Panamanian conglomerate with food distribution, automotive, and consumer businesses. Comparable Panamanian holding structure with multi-sector consumer exposure.
• Súper Selectos: El Salvador's largest supermarket chain with multi-format operations and an integrated loyalty program (Selectos Club). Comparable mid-sized multi-store retailer in Central America with similar mass-market positioning and loyalty integration.
• Grupo Pellas: Nicaraguan multi-sector holding group with retail operations (La Unión supermarkets) and diversified sectors including energy and real estate. Comparable Central American holding structure with consumer-facing retail footprint.
• Grupo Rey: Panamanian holding company operating Super 99 supermarkets and other retail formats — the closest direct competitor as a multi-format domestic retail platform headquartered in Panama City.

Regional players

• PriceSmart: Membership warehouse club operator across Central America and the Caribbean with hypermarket-format assortment. Closest format competitor to El Fuerte, anchored in Panama and broader region.
• La Curacao: Central American department store and electronics retailer operating across Guatemala, El Salvador, Honduras, and Nicaragua. Similar department store format serving family/household consumers in a comparable regional market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/supercentroelfuertepanama
• LinkedInlinkedin.com/company/grupo-raphael
• Instagraminstagram.com/elfuertepanama

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Raphael Group