Falabella is a multinational chain of department stores owned by Chilean multinational company S.A.C.I. Falabella. It is the largest South American department store,[6] and a member of the International Association of department stores (since 2006).[7]
History
The company was founded by Salvatore Falabella Cardone, an Italian immigrant from Naples, in 1889 in Santiago, Chile.[8] It was originally a tailor's shop, but today has become the largest retailer in South America. The expansion of the company began in the 1960s, with the first store outside Santiago opened in Concepción. In 1980 Falabella created CMR, a credit card with 5.5 million customers. In the 1990s it began a process of internationalization and expanded its operations to