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South Africa, Consumer
Roberto Quinetero Vega and José Ignacio Irigoyen Palacios’ company, Cinemagic, builds and manages high-tech, modern movie complexes in cities with populations of 50,000-150,000. With this niche focus, the entrepreneurs are well positioned to take advantage of a gap in the domestic movie market.
Roberto is a dually passionate about movies and entrepreneurship. He graduated from the Universidad de las Américas Puebla, and at 23, started working for his family’s business, a company that constructs and equips movie theaters for large national chains. Through this, Roberto learned the ins and outs of the film industry in Mexico, and quickly responded to a gap in the market. Most Mexicans in small cities did not have access to a local cinema. Even the wealthy and middle class residents of small cities were neglected by the large cinema chains. So, Roberto opened two theater complexes in Veracruz in 2000, and Cinemagic was born.
In 2008, revenues had reached in the millions, and Roberto decided to take on a partner to help manage growth. At the time, his brother-in-law, José, was finishing an MBA at the University of San Diego. With his professional experience, José was an ideal candidate to help Roberto. He joined the company that year, and the growth has been significant.
In order to position Cinemagic as the premiere Mexican cinema chain serving small cities, the entrepreneurs plan to open new locations annually. As Cinemagic expands, it will play a key role in the social development of Mexico’s small cities.
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