Falabella announces that Linio will stop operating in Ecuador and Panama
Chile's Falabella announced it will begin the process to close Linio's operations in Ecuador and Panama, the retailer said in a statement.
The marketplace will remain in these two markets until the available inventory is settled and the transactions carried out are finalized. Chile's Falabella announced it will begin the process to close Linio's operations in Ecuador and Panama, the retailer said in a statement.
The company will remain in these two markets until the available inventory is settled and the transactions that have already taken place are made concrete, indicated the Chilean media La Tercera. Falabella explained that the liquidation decision is part of its plan to focus its efforts on "those countries where it has strategic capabilities to improve the value proposition of its market platform."
In August 2018, Falabella acquired 100% of the shares of the online sales store Linio to compete against e-commerce giants such as Amazon and Alibaba. The purchase amounted to the US $ 138 million. Linio will maintain ownership of the brand in these two countries, the company added. Now, the marketplace will operate in six countries, with an important presence in Mexico, Colombia, Peru, Argentina, and Chile.
