Magalu announces release of credit lines for 10 million customers

Between rising interest rates and tightening financing conditions, Magazine Luiza it announced that it will offer pre-approved credit to more than 10 million customers. The campaign targets the company's customers who meet the criteria for granting credit established by the company itself and by the group's finance company, the LuizaCred, which has a partnership with Banco Itaú.

Until yesterday afternoon, approximately 5 million customers with the company's target profile had already received the campaign communication, which included a video starring Luiza Helena Trajano, chairman of the board of directors of Magalu.

The video gained repercussions on social networks on Monday, July 18, and was not officially posted by Magazine Luiza's team, and received a barrage of criticism indicating the businesswoman's supposed desperation with sales below the expected.

“A large portion of Brazilians depend heavily on credit to continue consuming,” said Frederico Trajano, CEO of Magalu. “At a time like the one we are experiencing, the tendency is for companies to cut their credit lines, but we know, through our data and analysis system, that there are more than 10 million customers in our base who are able to honor their commitments. We want these people to know that they can count on us at all times, especially in the most difficult ones”, he added.

And the company did not comment on the criticism from Internet users, which also involve associations between Luiza and the pre-candidate for the presidency of the republic for the PT, Luiz Inácio Lula da Silva (LULA). According to the company, Magalu favors customers from the company's nearly 1,500 physical stores located throughout Brazil.

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