Falabella keen to get best locations for itself in Peru

Chile's Grupo Falabella has expanded fast enough in Peru but now the retail group will try to speed up said expansion in light of the arrival locally of its Chilean rival Cencosud (which has purchased Grupo Wong, the local supermarkets leader).

Falabella has sent out the command from Chile that the best possible locations in the leading Peruvian cities must be bought up for future store developments. To get the ball rolling, this week Malls Peru, the local property wing of the Chilean group, acquired a plot of land in Cusco, measuring 10,000 square metres (a size that will permit the installation of two of the group's three big formats - Saga Falabella, Tottus and Sodimac); the project has already been dubbed Open Plaza Cusco. Meanwhile work has begun on what is expected to be a new Sodimac outlet on Avenida Quilca, Bocanegra (El Callao), alongside the recently-opened Tottus hypermarket.

Publication: SABI - Business News
Provider: South American Business Information
Date: December 26, 2007