Chilean Retailers Investing In Peru To Take Advantage Of Burgeoning Consumer Demand

Chilean retailers Cencosud and Falabella have detailed their investment plans for neighbouring Peru as they look to take advantage of the country's growing consumer affluence. Cencosud, which is already the country's leading supermarket operator, plans to enter the department store sector by investing US$70mn to establish 10 of its Paris branded department stores in Peru by 2014. Falabella has also said it will invest US$70mn, to expand its range of supermarkets, department stores and hardware outlets. Chilean department store operator Ripley is also investing, having announced plans in December 2010 to spend US$56mn to open eight new outlets in Peru

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