FALABELLA department store investments in Colombia

The chief executive of Falabella's unit in Colombia, Ricardo Hepp, has stated that the Chilean group will invest up to USD30 million in opening two department stores in the country, the first in Medellin in November and the second in Bogota next April. Falabella plans to operate 10 stores in Colombia by 2010, including stores in other key cities such as Cali and Barranquilla. The retailer opened its first Falabella department store in Colombia last year.

Source: PlanetRetail