Close to 15 million dollars were invested in construction and land investment in Colombia.
Moving ahead with its expansion plan, Falabella opens its second department store today in the North-West area of Bogotá.

The new outlet, an investment worth some 15 million dollars, will be located in the Imperial shopping mall (which is now opening its second stage) in the township of Suba and will offer the same product portfolio as its store in the Santa Fe shopping center.

Ricardo Hepp, president of Falabella Colombia, explains that the opening of the second store is thanks largely to the success experienced at its first outlet. "Many favorable circumstances come together in Suba: It is an area with substantial retail growth, it has a Transmilenio public transportation station, as well as other large retail chains such as Exito, Carrefour and Homecenter", the Chilean manager explained.

The new Falabella store has an area of 13,000 square meters, 10,000 of which are for retail sales open to the public. The store has two levels and clients will be served by 300 salespersons. Constructora Colpatria, which was in charge of construction, created some 300 direct and indirect jobs.

The store will offer some of the most important national brands, as well as the best of Falabella’s exclusive worldwide collections. It will also offer a wide range of top electrical appliances, electronics and toys brands.

"Just like the store at the Santafé shopping center, this is an innovative shopping option in a format that is unique in the country, where good taste, decoration and design predominate," Hepp said.

The new department store will also offer complementary financial services inside the retail area: the CNR credit card, which already has 237,000 card-holders in Colombia, Falabella Travel and Insurance - Falabella PRO, as well as the innovative program "Falabella Brides", which caters to the needs of couples who are engaged to marry soon.

Falabella will offer not only credit cards, but also currency exchange services through Western Union.

The chain’s growth plan includes opening 8 additional stores over the next five years, including a new store in Medellin, scheduled to open to the public in October this year at the San Diego shopping center, and another store in Bogotá in the first months of 2008, in the Modelia neighborhood close to the Carrefour Hayuelos.