Walmart seeks to invest in Peruvian territory
Peru, one of the most dynamic economies in Latin America, has steadily seen its middle class and consumer demand grow. According to consulting company Araval Investment and Consultancy, retail sales will rise more than 20% in 2013, to about 6.9 billion dollars.
And WalMart, the world's largest retailer, wants a share of that market.
"WalMart's is still very strongly interested in entering the Peruvian market," said a source close to the U.S. company who asked not to be identified. "They’ll surprise us pretty soon. They have to," he said.
"Peru can give more. There is enough capacity and potential," he added.
WalMart could enter Peru through a partnership with a local chain or through an acquisition, which would allow it to benefit from the low penetration in the retail market mainly outside the capital.
Big chains only have 15% of the retail business in Peru, while in other countries like Brazil and Chile penetration is 60%.
According to the source, WalMart could be located in the south of Lima, where its subsidiary and representative in Peru, Chile’s Distribution Services (D & S), acquired a huge field for 1 million dollars three years ago.
"Chilean shareholders are very interested in entering this market," said the source.
Reuters
