South America to see 4 billion dollar retail investment

London - The sums are huge by any standard: South America is to see a 4 billion dollar investment by Chile’s retail giant Falabella over the next three years. The investment is up 9.5 percent on the pervious four-year period, with 44 percent set aside to open 131 stores and 10 shopping malls.

This year alone Falabella will inject 885 million dollars into markets Peru, Colombia, Chile and Argentina, though the company would not detail specific locations.

Another 26 percent of the projected sum will go to enlarge and remodel many of its 450 stores, alongside its 40 shopping malls.

The remaining 30 percent will be spent improving infrastructure, logistics and IT, the company said.

“These investments will enable us to improve efficiency and productivity in our different businesses and to strengthen our physical and digital presence,” WWD reported general manager Sandro Solari as saying.

“In line with our profitable growth strategy, we will remain alert to the evolution of the different markets and opportunities that could emerge in the current economic context.”

Last year, Falabella opened four department stores, eight supermarkets, 10 Sodimac home-improvement stores and the region’s first Crate & Barrel shop. Most openings werein Chile, Peru and Colombia, Brazil and Uruguay.