Ricoy Supermercados, through its subsidiary Russi Supermercados ordered AUS$150,000 of Cardia Bioplastics bags over 4 months and successfully validated Cardia’s product quality. Annual supply agreement was executed with forecasts of orders of 5 Million Cardia Bioplastics bags per month based on initial orders.
Brazil is South America’s largest consumer market and the seventh largest globally. The 2014 FIFA World Cup Brazil™, Rio 2016™ Olympic and Paralympic Games as well as changing legislation saw increased demand for Cardia Biohybrid™ and Compostable bags.
With revenues of BRL1.8 billion, 90 stores and more than 8,500 employees Rocoy Supermercados ranks as fourth largest supermarket chain in the state of São Paulo and fifteenth largest in Brazil. Ricoy operates under the brands Supermercado Ricoy, The Most, Peri and Russi.
