SANTIAGO Jan 8 Chilean retailer Falabella will invest $4.1 billion in the next four years to strengthen and expand its business in Latin America, where consumption is booming in many countries.
The company, which has operations in Argentina, Brazil, Chile, Colombia, Peru and Uruguay, said on Tuesday night that more than 60 percent of the funds would go to opening new stores. The remaining amount will be for logistical and technical operations.
The investment plan entails the opening of 157 new stores and 15 malls in those six countries. Falabella had 382 stores and 36 malls at the end of last year. (Reporting by Antonio de la Jara; Editing by Lisa Von Ahn)