A Falabella Store in Talca, Chile. Wikimedia Commons.
One of Latin America’s largest retail chains, Falabella is planning to open 21 new stores in Chile, Peru, Uruguay, Colombia, and Mexico this year, Argentinian media outlet La Voz reports.
According to Carlos Solari, President of the Santiago-based company, the expansion plans include new Falabella department stores, Tottus supermarkets and Sodimac Home improvement centres.
Solari also explained that the firm’s primary focus for the year is to accelerate its digitisation efforts to integrate product offerings and services into one platform, bringing together Falabella, Sodimac, Tottus, Linio, external sellers and fintech services. The multi-million dollar investment also entails renovations of retail spaces to welcome Chile’s first Ikea stores, which are expected to open in 2022.
The expansion plans notably exclude Argentina, which has been mired in recession for three years. Last month, Falabella announced the closure of three stores in Buenos Aires and that it would only continue to sell through its digital channel. The move came after failing to find a buyer for its retail operations in the country.