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Ripley to Spend $350 Million on New Andean Stores, Mercurio Says

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Oct. 22 (Bloomberg) -- Ripley Corp SA, Chile’s third largest department store operator, plans to spend $350 million by 2015 to open four new stores in Chile, 15 in Peru and 15 in Colombia, El Mercurio said in its Oct. 21 edition.

The retailer, which currently operates only in Chile and Peru, has secured rental contracts for 10 of its planned stores in Colombia, Ripley Corp’s chief executive officer Lazaro Calderon told El Mercurio in an interview.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.

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