Sodimac parent company Falabella brings Ikea to South America

The Chilean retail group Falabella, which operates in the home improvement sector through its subsidiary Sodimac, is bringing Ikea to South America. The first South American Ikea store is expected to open in Santiago de Chile at the end of 2020, followed by further stores in the Colombian and Peruvian capitals of Bogotá and Lima.
A memorandum of understanding has been signed that envisages at least nine furniture stores opening in Chile, Colombia and Peru in the next ten years. Online retailing is also expected to commence in the three countries. Falabella is reported to be investing USD 600 mio in total to become an Ikea franchisee.