What Allos does

ALLOS S.A. (ticker ALSO3, B3 Novo Mercado) is Brazil's largest shopping center operator, created in 2023 through the merger of Aliansce Sonae and brMalls and operating 51-58 shopping centers spanning all five regions of the country. The company leases physical retail space (ABL/GLA) to more than 13,000-15,000 retailers (lojistas) across flagship properties including Parque Dom Pedro (Campinas), Shopping Leblon (Rio), NorteShopping, Shopping Tamboré, and Shopping da Bahia, and serves over 50 million consumer visits per month. Tenant leases are typically structured as percentage-of-sales plus fixed minimum rent, with anchor tenants spanning fashion (Zara, Centauro), digital-native brands migrating to physical (MadeiraMadeira, Mobly, Kavak, Repassa), fitness (Bodytech), entertainment (Kinoplex), and F&B.

The company's figital platform layers proprietary technology on top of its physical footprint. Core components include IARA — an internal AI assistant that allows mall managers to query lojista sales and traffic data via natural language on mobile devices; a Data Lakehouse consolidating multi-source purchase and visit data; Shopping Online, a marketplace integrating ~7,000 physical stores with e-commerce and same-day or 3-hour express delivery; and PEG, Brazil's first in-mall logistics hub offering drive-thru pickup, 33 smart lockers, and reverse logistics. Supporting innovations run through Allostech (the corporate VC and innovation arm with investments in Hubsell and Box Delivery), the helloo out-of-home media network (12,000 faces across 100+ malls and 5,000 residential buildings reaching 44M monthly viewers), BeGreen urban farming (50/50 JV in six malls), and curated experience concepts (Taste Lab gastronomic food halls, Xdome Gamer Lab, immersive Klimt/Van Gogh exhibitions).

ALLOS earns revenue from three streams: (i) mall rental and lease income from its 51-58 shopping centers; (ii) digital and omnichannel services (take rates and service fees on Shopping Online, PEG logistics, and Compre Online transactions); and (iii) media and advertising through the helloo OOH network. The company also co-creates institutional capital vehicles such as the Kinea-ALLOS Mall FII for shopping center exposure, and pursues ESG-driven branding (COP30 sponsor, ISE B3, Bloomberg GEI, UN Global Compact) as both positioning and stakeholder signaling.

Name

Allos

Legal name

ALLOS S.A.

Website

https://allos.com.br

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

ALLOS is Brazil's largest shopping center operator, managing 51-58 malls across all five Brazilian regions and serving 13,000+ retail tenants and 50M+ monthly consumer visits. It layers proprietary figital tools — Shopping Online marketplace, PEG logistics hub, IARA AI, and helloo OOH media — on its physical mall portfolio.

Ownership category

akta.pro rank

Headquarters

HQ city

Barra Da Tijuca

HQ country

Brazil

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mall Rental and Lease Income: ALLOS earns revenue primarily from leasing retail space (GLA/ABL) to tenants (lojistas) in its portfolio of 51-58 shopping centers. Rent is typically charged as a percentage of sales plus a fixed minimum rent. The portfolio includes anchor stores, megastores, specialty retail, food & beverage, entertainment, and service operators.
2. Digital & Omnichannel Services: Revenue from digital channels including the Shopping Online marketplace, Compre Online services, and last-mile logistics solutions provided to lojistas. The company takes a take rate or service fee on transactions processed through its digital platforms.
3. Media and Advertising: ALLOS operates mall media and advertising across its shopping center network. Through helloo (OOH media company), the company sells advertising faces across 100+ shopping centers and ~5,000 residential buildings in 50 cities, reaching 44 million unique monthly viewers.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

ALLOS operates Brazil's largest shopping center platform, leasing retail space to approximately 13,000+ stores across 51-58 malls spanning all five Brazilian regions. The company runs a figital (physical + digital) ecosystem that includes the Shopping Online marketplace connecting physical retailers to e-commerce channels, the PEG logistics hub for pickup and last-mile delivery, the IARA AI analytics assistant for mall managers, and the helloo out-of-home media network. ALLOS also develops experiential concepts such as Taste Lab gastronomic halls and BeGreen urban farms within its shopping centers.

Product overview

ALLOS operates as an integrated retail platform combining physical shopping center operations with digital products and services. The core offering consists of 51 shopping centers (with portfolio references ranging from 38 to 58 depending on source and date) spanning five Brazilian regions, serving over 13,000 retailers and receiving more than 50 million visits per month. The digital ecosystem is anchored by Shopping Online (marketplace connecting physical retailers to e-commerce), the IARA AI analytics assistant, the PEG logistics hub for last-mile delivery and pickup, and the AllosTech benefits program with 1.5M registered users. Supporting innovations include Taste Lab gastronomic food halls, BeGreen urban farming joint ventures, and the helloo out-of-home media business. The company leverages a proprietary data lakehouse and AI capabilities to deliver personalized consumer experiences and data-driven retailer support.

Differentiator

Problem solved

Functional benefit

Brands

• Allostech (Alsotech): Innovation division responsible for figital strategy, e-commerce, logistics, data analytics and consumer engagement
• helloo
• BeGreen
• Taste Lab
• PEG
• IARA
• Xdome Gamer Lab
• Programa de Benefícios

Products and services

• Shopping Online Digital marketplace that aggregates ALLOS's physical retail tenants, enabling online product sales integrated with multiple third-party marketplaces, with same-day or 3-hour express delivery.
• PEG Logistics Hub Brazil's first logistics hub installed within a shopping center, providing drive-thru pickup, 33 smart lockers, virtual fitting rooms, and same-day delivery logistics for ALLOS retailers and external e-commerce partners.
• Taste Lab Curated gastronomic food hall concept combining high-quality accessible dining, contemporary architecture with natural integration, and diversified cultural programming including live music and art exhibitions. Operates at NorteShopping (Rio de Janeiro), Shopping Tamboré (São Paulo), and Shopping Estação Cuiabá (Mato Grosso), with a new unit planned for Shopping Tijuca.
• BeGreen Fazendas Urbanas Joint-venture urban farming operations within ALLOS shopping centers producing pesticide-free organic vegetables using hydroponic automated greenhouses that are 28 times more productive while using 90% less water than traditional farming. Units installed at Boulevard BH, Via Parque, Parque D. Pedro, Shopping da Bahia, Passeio das Águas, and Plaza Sul.
• helloo Out-of-home media company managing advertising inventory across ALLOS's shopping center network and approximately 5,000 residential buildings in 50 cities, with 12,000 advertising faces reaching 44 million unique monthly consumers.
• AllosTech Benefits Program Proprietary customer benefits and loyalty platform offering exclusive discounts, personalized rewards, and customized communication to drive retailer sales, available in nine shopping centers with over 1.5 million registered users.

Quantifiable outcome

• R$47+ billion in annual total sales across portfolio
• +10 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core and minor.

• AlexandriacoreStrategic or Co-development PartnerGlobal branding and innovation consultancy engaged to conduct a comprehensive consumer behavior study across Brazil. This partnership led to the clusterização strategy identifying six distinct consumer territories within the ALLOS portfolio, transforming how ALLOS targets campaigns, activations, and store mix.
• Fábrica de StartupscoreStrategic or Co-development PartnerCorporate accelerator that develops open innovation solutions for large companies starting startups. ALLOS partnered in 2019 for continuous innovation across e-commerce, logistics, data analytics, and consumer engagement. Over 100 startups applied; 20 were accelerated; 4 commercial deals were made.
• HubsellcoreTechnology or IntegrationE-commerce integration hub platform founded in 2014, integrated with 40+ marketplace platforms (VTEX, Linx, TOTVs) and 20 marketplaces. ALLOS invested in Hubsell via Alsotech to build integration between ALLOS digital channels and lojista point-of-sale systems.
• Box DeliverycoreTechnology or IntegrationLogtech (logistics startup) focused on last-mile delivery to end consumers. Invested in by Alsotech, Box Delivery operates the PEG logistics ecosystem and delivers 500,000+ orders per month across 153 cities, 6,000 establishments, and ~100,000 registered delivery riders.
• BeGreen Malls Fazendas UrbanascoreStrategic or Co-development PartnerJoint venture (50% ALLOS ownership) for urban farming inside shopping centers. BeGreen operates hydroponic urban farms producing pesticide-free vegetables 28x more productively with 90% less water than traditional farming. Present at Boulevard BH, Via Parque, Parque D. Pedro, Shopping da Bahia, Passeio das Águas, and Plaza Sul.
• Allostech / AlsotechcoreTechnology or IntegrationInnovation division and corporate VC arm of ALLOS, created in 2021 to develop the figital strategy across four pillars: e-commerce, logistics, data analytics, and consumer engagement. Has made strategic investments in startups including Hubsell and Box Delivery.
• Instituto da CriançacoreStrategic or Co-development PartnerSocial partner for the Leitura para Todos (Reading for All) program since its inception. Maps and selects social institutions to receive book donations. The program has distributed 1 million books to children up to 7 years old since 2021 across 47+ ALLOS shopping centers.
• ArtRiominorStrategic or Co-development PartnerArtRio Education project brings a traveling exhibition on Art History to ALLOS shopping centers in Rio and São Paulo. Features 10 totems, QR codes with audio from singer Roberta Sá, and children's art workshops. Expands to ArtSampa in São Paulo.
• MAM — Museu de Arte Moderna do Rio de JaneirominorStrategic or Co-development PartnerMAM 3D Virtual Visit project brought MAM exhibitions to the digital environment via 3D tours. In 2022, the partnership was renewed for educational visits for children from institutions supported by ALLOS, impacting 400+ children.
• National Geographic and DisneyminorStrategic or Co-development PartnerPartnership for an immersive climate change circuit at Boulevard Shopping Belém, as part of the COP30 programming. The circuit educates visitors about climate science and conservation.
• Lightland ProduçõesminorStrategic or Co-development PartnerBrazilian producer of immersive art exhibitions. Organized the Brazilian debut of Klimt and Gaudí immersive exhibitions (Culturespaces Studio productions) at Mooca Plaza Shopping, expected to travel to cities across all regions of Brazil.
• MOVER — Movimento pela Equidade RacialcoreStrategic or Co-development PartnerCoalition of companies committed to racial equity. ALLOS is the only shopping center company in the MOVER coalition (47 companies). The partnership focuses on three pillars: leadership (10,000 Black leadership positions by 2030), employment/capacity building (3M opportunities), and awareness (training and campaigns).
• Filhos no CurrículominorStrategic or Co-development PartnerConsultancy specializing in promoting parenting support actions. Partnership under ALLOS's gender equity and parental leave initiatives, including extended paternity leave and breastfeeding support programs.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Klépierre: Klépierre is the leading pure-play shopping center REIT in continental Europe with 70+ premium malls. Comparable to ALLOS in retail REIT structure, percentage-rent model, and large-scale mall operating approach.
• Simon Property Group: Simon is the largest US shopping center REIT, operating 200+ properties including premium malls and outlet centers. Comparable to ALLOS in terms of mall REIT structure, premium tenant base, and diversified real estate platform at scale.
• Unibail-Rodamco-Westfield: URW is Europe's largest shopping center operator with the global Westfield brand in the US/UK. Closest global analog to ALLOS's figital strategy, premium mall portfolio, and integrated data/tech platform approach to retail real estate.
• Brookfield Property Partners: Brookfield Property Partners is a global retail real estate platform owning/operating shopping centers and mixed-use destinations worldwide. Comparable to ALLOS's scale of mall operations and global reach of premium retail destinations.

Direct peers

• Macerich: Macerich is a US mall REIT focused on premium shopping centers in major markets. Comparable to ALLOS in portfolio strategy, mall operating model, and tenant mix centered on premium fashion, dining, and entertainment.
• Iguatemi: Iguatemi is a Brazilian shopping center operator focused on premium and high-end malls. Direct competitor to ALLOS in Brazilian shopping center operations with overlapping tenant base in fashion, lifestyle, and upscale dining retail.
• Multiplan: Multiplan is one of Brazil's largest shopping center operators with 40+ malls across the country. It is the closest direct competitor to ALLOS in operating premium Brazilian shopping centers, sharing similar mall management model, rent-plus-percentage structure, and tenant mix.

Others

• MercadoLibre: MercadoLibre is Latin America's largest e-commerce marketplace operating across 18 countries. Relevant to ALLOS as both a competitive force in Brazilian retail (Shopping Online competes with MercadoLibre) and a comparable operator of a scaled multi-category digital marketplace in the region.

Regional players

• Link REIT: Link REIT is Hong Kong's first and largest REIT with a portfolio of shopping centers and retail properties. Comparable to ALLOS as an Asian mall REIT with similar tenant mix, premium positioning, and shopping center operating approach.
• CapitaLand Investment: CapitaLand operates retail REITs across Asia with shopping mall portfolios in Singapore, China, and India. Comparable to ALLOS as Asia's regional equivalent in scale, integrated retail real estate platform, and mall-as-destination strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@somosallos
• Facebookfacebook.com/somosallos
• LinkedInlinkedin.com/company/somosallos
• Instagraminstagram.com/somosallos
• TikToktiktok.com/@somosallos

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

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 Allos