Sonae Plans to Open More Than 25 Zippy Stores in Latin America

Oct. 15 (Bloomberg) -- Sonae SGPS SA, a Portuguese retailer, opened its first store in the Dominican Republic this month and plans to have more than 25 stores in Latin America by 2016, the company said.

The store, part of the Zippy chain selling childrens’ clothing, opened in Santo Domingo through a franchising agreement with the Phoenix Group, the Maia, Portugal-based company said today in an e-mailed statement.

“The expansion plan for Latin America forecasts the opening of more than 25 stores until 2016” in countries such as Venezuela, Colombia and Panama, according to Sonae.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net