According to Reuters, the retailer would seek approval from shareholders for the financing as it aims to increase its online presence and accelerate investments in technology and logistics.
Due to this announcement, Linio, an online marketplace that operates in eight LATAM countries, would provide Falabella a platform for selling its products.
Falabella’s other operations include department stores, supermarkets, home improvement centers, malls and financial services, operates in Argentina, Brazil, Chile, Colombia, Peru and Uruguay.
Earlier in February 2018, Linio partnered with AdBirds, an international digital agency, to grow its digital market reach.
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