Falabella plans US$ 1.1 billion expansion investment

Latin American department store chain Falabella, owning stores in Chile, Argentina, Peru and Colombia, has announced to invest US$ 1.1 billion in new stores.

The Chilean retailer is also contemplating to expand its business into Brazil and Mexico. "We are planning to open 120 new stores during the next four years", Falabella general director Juan Benavides said. "Eventually we’d like to be present in all of Latin America".

Subsidiary company "Sodimac", a hardware and home improvement store, is will soon enter the Argentinean market and strengthening its position in Colombia and Peru with the opening of new branches.