CHILE –    In August 2022, the Falabella Group introduced Ikea to Chile through a franchise, marking the Swedish retailer’s first step into South America. Despite weaker consumer spending following pension withdrawals, the brand quickly gained traction. Within three years, Chilean stores became the fastest-growing Ikea operations worldwide, outperforming other markets for two consecutive years.

The rollout began with the first store at Open Kennedy mall, later acquired by Parque Arauco, followed in December 2022 by the opening of Ikea Plaza Oeste, a store closer to Ikea’s traditional format. Today, the Parque Arauco Oriente location ranks among the global top five small stores, underscoring the strong consumer connection in Chile.

Since 2022, store visits in Chile have doubled, according to Emol, while the e-commerce channel has outperformed, with penetration above Ikea’s global average and sales doubling during Cyber Days.

In Colombia, the Ikea franchise has also delivered double-digit growth. Combined, the brand’s presence in both countries now exceeds 80 million visits across physical stores and online platforms. For Falabella, bringing Ikea to South America has proven to be a highly successful move.

Beyond Ikea, the group continues to expand through department stores, banking, home improvement, supermarkets and malls. In 2024, Falabella sold a 70% stake in Juan Valdez’s Chilean franchise to Copec, a transaction approved by the National Economic Prosecutor’s Office.