Between machines over 70 years old that still participate in the manufacture of the historic 084 model and an operation that today must respond to TikTok Shop, marketplaces , physical stores and deliveries with precise time windows, Panam is going through one of the deepest transformations in its recent history in 2026.
The Mexican brand closed its main factory in Cuautitlán Izcalli, State of Mexico, this year and moved its production to Guanajuato . At the same time, it is reorganizing its distribution network to serve its own stores, franchises, retailers , and digital channels, where e-commerce already accounts for 20% of sales.
The transition encapsulates the challenge of a company born in the 1960s around school footwear and now competing against global brands , new platforms and a growing Asian offering.
“We started as a brand focused on school shoes,” Karla López, Ecommerce Manager at Grupo Panam, explained to T21. That origin remains in the 084 model, which continues to be among the best-selling shoes on digital platforms, in physical stores, and through retailers .
Currently, there are three main versions of the 084 shoe, representing approximately 35% of production. However, the company offers over 500 shoe models and began developing additional categories in 2018.
This growth also increased the complexity of the product. Until this year, Panam maintained its main factory in Cuautitlán Izcalli, while a large portion of its manufacturers and material suppliers were located in León. In 2026, it closed the plant in the State of Mexico and concentrated its production operations in Guanajuato, where it works with more than 10 manufacturers.
“2026 has been the important change for Panam in terms of production,” López acknowledges.
The decision is based on logistical logic: moving production to where materials and manufacturers were already located optimizes transportation and costs. Once the footwear is finished, Panam consolidates the models in its own warehouse in León, certifies their quality, and then transports the product to Cubbo’s warehouses, from where it is distributed to physical stores and digital channels.
The change coincides with another transformation that began years earlier: digitalization. Panam ventured into e-commerce around 2018. The pandemic accelerated the process, and in 2020 it sought a provider capable of processing and delivering orders while stores faced restrictions.
This marked the beginning of their first relationship with Cubbo , focused on e -commerce fulfillment . Panam maintains that, after structuring this operation and supporting it with commercial and marketing strategies, the platform experienced a growth of 400 percent .
Today the scale is different. According to López, the online store is roughly equivalent to the volume of 10 to 12 physical stores. In the business’s composition, e -commerce contributes 20% of sales , physical stores 30%, and the remaining 50% corresponds to other channels.
But selling through multiple locations creates a problem: each storefront requires inventory , order fulfillment, transportation, traceability, and a delivery guarantee. That’s where the second story between Panam and Cubbo begins.
Cubbo had a strong focus on e-commerce . When Panam needed to expand its service to its physical stores, the provider didn’t have that capability. The brand decided to discontinue its Cubbo service for approximately a year.
“ Cubbo realized with Panam that being the most technologically advanced company doesn’t necessarily guarantee customer retention,” says Armando Palma, Head of Expansion & New Verticals Ecommerce at Cubbo. This experience led the operator to develop a solution that can handle the supply of stores, starting with individual digital orders.
The operational difference is substantial. An e-commerce order typically involves between one and three items; a store order can exceed five thousand. Delivering to a shopping mall also requires specific vehicles, specific schedules, and processes for transporting the merchandise to the store.
A delay can mean missing the window and not receiving your order until the next day. For a brand launching a campaign or collection, that can translate into lost sales. Therefore, the key indicators are fill rate and on-time delivery : fulfilling all orders and delivering them at the agreed-upon time.
Panam’s omnichannel strategy is still under development. Cubbo distributes to physical stores and manages digital channels, while Panam handles direct deliveries to retailers . The intention is that the operator will later also be able to take on the B2B ( business-to-business ) side .
The operation requires anticipating which products each location will need. Panam works with forecasts based on seasonality, promotions, new product launches, and past performance. This is no small feat for a company that launches two major collections a year and aims to introduce five to six new styles per week. Store space is limited, so maintaining availability means constant restocking.
Returns reveal another side of the strategy. Panam registers around 6% in e-commerce and marketplaces . Part of this stems from the sizing of some products, particularly the 084, whose historical pattern has a peculiarity that may require choosing a different size than usual.
When a return occurs, having physical stores can be an advantage. If a customer bought online and needs to exchange a size, color, or model, Panam can invite them to make the exchange directly in a store.
“What we have identified is that those who buy on e-commerce sometimes do not know about physical stores and vice versa,” López points out.
In this way, the company avoids paying for return shipping in some cases and brings the online consumer closer to the physical store. A purchase begins online but can be completed in-store: a concrete example of the integration that Panam seeks to build.
All of this is happening at a less predictable time for consumer spending. López points out that Panam maintained significant growth until 2025 , while 2026 has shown a different trend. Even during the World Cup, when he expected greater activity, the response fell short of expectations, and some retailers even canceled products due to the volatility.
Added to this is Asian competition. Panam identifies pressure not only from international brands, but also from cloned products capable of replicating trends at lower prices. Its response has been to deepen collaborations and special editions with brands such as Victoria beer, Indio, Totis, and Bachoco.
The strategy seeks out what is most difficult to copy, but it demands a supply chain capable of responding quickly . Each launch requires coordinating production, inventory, campaigns, and availability across different channels.
Therefore, logistics is taking on a different role within Panam. It is no longer limited to moving boxes from a factory to a store: it must connect a reorganized production in Guanajuato with hundreds of retail outlets, marketplaces , and consumers who expect availability and accurate deliveries.
Panam isn’t abandoning the 084 model to enter the digital world. It’s trying to adapt that tradition to a commercial system where the boundary between store and screen becomes increasingly blurred.
The transformation is not yet complete. Cubbo may later incorporate distribution to retailers , while Panam will continue expanding its stores in shopping malls and seek new marketplaces . The test will be whether this network can operate as a single, seamless consumer experience.
Comment and follow us on LinkedIn: @Enrique Duarte Rionda / @GrupoT21
