Chilean Tottus To Invest $60 Mln in Opening up to 15 Hypermarkets in Peru 2008

Chilean hypermarket chain Tottus will invest $60 mln (41.23 mln euro) in the opening of up to 15 hypermarkets in Peru in 2008, the CEO of Tottus, Juan Correa, said on November 6.

Some 50 pct of the hypermarkets will be located in Lima, he added. The remaining will be definitely opened in cities such as Chiclayo, Trujillo and Arequipa, Correa was quoted as saying.

Peru is currently enjoying an economic stability and growth, which is the main reason Tottus wants to expand on the Peruvian market, he commented.

Tottus opened a new hypermarket in Lima's district Chorrillos on November 6. The new hypermarket is the fifth of the company in Peru.

Tottus is owned by the Chilean retail chain Falabella. The total investment plan of Tottus for 2007 stands at $50 mln (34.36 mln euro).

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: November 7, 2007

Retailer Supermercados Peruanos To Invest $5.8 Mln in New Hypermarket in Chiclayo

Peruvian retailer Supermercados Peruanos SA will invest $5.8 mln (4.3 mln euro) in the construction of a new hypermarket of its Plaza Vea retail chain in the town of Chiclayo, in the western Lambayeque region, the company said on August 23, 2007.

The Plaza Vea hypermarket in Chiclayo will be opened in October. It will cover a total area of 8,500 sq m in the Real Plaza shopping mall. The hypermarket will offer food and textile goods, electrical appliances, detergents and personal hygiene products.

The construction works are estimated to create 300 direct jobs.

The Plaza Vea chain has 20 hypermarkets in Lima and one in Trujillo.

[Editor's note: Supermercados Peruanos SA announced it would invest $30 mln (22.1 mln euro) in hypermarket openings of the Plaza Vea retail chain in 2007, the Latin America News Digest reported on December 4, 2006. In 2006 the retailer invested $25 mln (18.4 mln euro) in the expansion of Plaza Vea. Apart from Plaza Vea, Supermercados Peruanos runs also the chains Vivanda, Minisol and Santa Isabel.]

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 24, 2007

Wong acquires supermarket chains

Corporacion Wong has acquired four stores of the supermarkets chain Merpisa paying US$7.05mil, and is completing negotiations to acquire the small chains El Centro (5 stores) and El Super (3 stores). Chiappe family, to which belongs El Centro, has received proposals from Supermercados Peruanos and Falabella, but Wong is confident to incorporate it as part of a strategy to reach the Peruvian interior.

Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007