Falabella was incorporated in 1937, when Alberto Solari joined the firm.
Key Dates: 1889: Salvattore Falabella, an Italian immigrant, opens the first large tailor shop in Chile.
Address: Rosas 1665, casilla (P.O.
(Substantially more than half of Falabella's department store customers were paying for their purchases with the CMR credit card.) Falabella had net sales of CLP.06 trillion (1.79 billion) and net income of CLP.41 billion (165.72 million) in 2003.The Falabella web site included an Internet service provider, Falabella Free.Principal Competitors: Almacenes Paris Comercial.A.; Cencosud.A.; Comercial Eccsa.A.; Distribuidos Servicios D.A.; Parque Arauco.A.Website: Geographical presence: GlobalNorth/Latin AmericaEuropeMiddle IslandsAlbaniaAlgeriaAmerican and Plurinational ideas para rifar premios State ofBonaire, Saint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina VerdeCayman IslandsCentral African IslandCocos (Keeling) Democratic Republic of theCook IslandsCosta RicaCote RepublicEcuadorEgyptEl SalvadorEquatorial Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern Island and McDonald IslandsHoly See.Some 75 percent of the company was acquired by a group composed of Reinaldo Solari Magnasco, Cúneo, Mellafe, Sergio Cardone Solari, and the Lombardi family.Source: International Directory of Company Histories, Vol.69.Website: m, public Company, incorporated: 1937, employees: 25,813, sales: CLP.06 trillion (1.79 billion) (2003).1983: The store moves from central Santiago to the posh Parque Arauco area.The parent company saw this chain as the vehicle it lacked to continue growing in retail sales and made plans to invest about 70 million each year for the construction of new outlets.
Was established as the subsidiary charged with investments in Argentina and Peru.The first Falabella store outside of Chile opened in Mendoza, Argentina, in 1993.Under the left-wing government of President Salvador Allende, in the early 1970s, Falabella was requisitioned by the state, but its loyal employees are said to have kept the designated administrators from entering the premises.(50 Banco Falabella; CMR Falabella.A.; Falabella Uruguay.A.; Home Trading.A.; Inverfal.A.; Italmod.A.Tarjeta saga, tarjeta CMR, tarjeta Ripley.Most members of the Falabella family and related Peragallo family sold their shares.Falabella became a department store, with a vast array of home products, in 1958.
Cúneo credited Jorge Mellafe with rescuing Falabella by planting the idea of extending credit to customers, in spite of inflation running at about 20 percent a month, by negotiating 60-day credits from the company's suppliers.
He was succeeded by Juan Benavides Feliú, the general manager of the credit card subsidiary, which was accounting for more than half of the parent company's profits.