Falabella to invest $4bn in Latin America expansion

Chilean retail chain Falabella has announced plans to invest $4 billion during the 2017-2020 period to expand its footprint in Latin America.

The investment will also go towards refurbishing existing stores - Archivo

According to a press release, the Santiago-based retailer is planning to open 114 stores and 9 shopping malls, and refurbish a number of existing branches. The investment will also fund several logistics projects aimed at improving its omnichannel performance and streamlining its operational efficiency.

The expansion will start this year with a $977 million plan to launch 23 new stores and two new shopping malls across Latin America.

The business has a presence in Chile, Peru, Colombia, Argentina, Brazil and Uruguay with operations including department stores, supermarkets, home improvement centers, malls and financial services.

It plans to expand its business in Mexico after signing in July last year an agreement with Soriana to jointly launch in the country its home center Sodimac and financial services CMR. Both companies are expected to launch by the end of the year or at the beginning of 2018.

Falabella has 476 stores and 38 shopping centres across Latin America.

Translated by Barbara Santamaria

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