which a few weeks ago lost its investment grade due to its high level of debt, announced an investment plan for 2024 for US$508 million, a figure 24% lower than the US$664 million in 2023. The resources for this year are the lowest in at least a decade.

It is a plan that seeks to deepen omnichannel interaction with our customers, selectively expanding retail formats.. In line with our objective of strengthening the company’s financial position, the announced plan has reductions compared to the previous year (lower by 24%) and a greater focus of investments to obtain better profitability“, expressed the interim general manager of Falabella, Alejandro González, according to .

Falabella will allocate US$270 million to expand and renew the store network, which represents 53% of the total. Of that amount, US$113 million will be used to open stores in Chile, Peru, Mexico, and Colombia, which includes two new IKEA stores in that last country.

Besides, It is contemplated to invest US$157 million in strengthening the physical-digital proposalrenovating stores and shopping centers.

With these investments, Falabella aims to improve the customer experience, optimizing the exposure of categories in stores, simplifying and streamlining the purchase; deepen the monetization of physical channels; strengthen the proposal of malls as urban centers, expanding the meters destined for services and the Lifestyle area of ​​Mallplaza Vespucio (Chile); and ensure its commitment to be Net Zero in scopes 1 and 2 by 2035″the company noted in a press release.

Falabella’s plan also considers US$200 million for technology, in order to continue strengthening its e-commerce in the Andean region, and promoting digital banking. It also aims to install transversal capabilities to the business ecosystem: reinforce logistics through technological synergies between different formats, and integrate new functionalities for sellers and suppliers, and strengthen the loyalty program, through improvements in the digital experience, the company added.

In logistics, The investment considers US$38 million with emphasis on optimizing capacity and area available for inventory management, especially in Colombia.



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