Chilean Ripley To Invest $200 Mln in Expansion in Peru 2008-2009

Chilean department store chain Ripley will double all investments made in Peru until now, allocating $200 mln (145 mln euro) to finance an aggressive expansion plan in the country in the period 2008 to 2009, Ripley executive director for Peru, Sergio Collarte, said on August 5, 2007.

The company has invested a total $89 mln (65 mln euro) in Peru since it entered the country in 1997. In the next two years Ripley will invest in the construction of malls and shops, and the expansion of its financial business in Peru.

Ripley (www.ripley.cl) is specialising in the retail selling of clothes, accessories and home furnishings. It is also involved in the financial business providing consumer credits to customers with its own credit card Ripley and its banking unit Banco Ripley. Banco Ripley offers consumer credits and insurance, as well as the products of U.S. credit card company MasterCard.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 6, 2007

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