We once again focus on the growth of our subsidiary in Chile, after having closed the fiscal year of 2022 by doubling the turnover in the Latin American country to reach more than 11 million euros.
A year of great achievements with the incorporation of large clients such as Reebok, Prune or Falabella, to which we add the operations in March 2023 of Hennes & Mauritz or H&M, the Swedish multinational chain of fashion stores that reached the Chilean market almost 10 years ago.
Thus, for the month of September 2023, we expect to increase our operating area in Chile by 27% with the opening of a new logistics hub, which will allow us to reach 90,000 m2.
In this sense, with an investment of more than $25 million USD for the construction of the new logistics center during 2023, we have first-class facilities and approximately 32,000 m2 of operating area located in Lo Espejo, in the southern logistics pole of the Metropolitan Region.
The new distribution center, owned by Global Storage (of the Calderón family), which is already under construction, is a Class A center with very high standards of quality and safety. A robust infrastructure and a privileged location, among other characteristics, make this center the ideal place to host an important part of our operation in Chile.
“For Logisfashion, Chile has always been a very relevant and cutting-edge market in the region for its drive, stability and innovation. Our trajectory in the country has been consolidated in recent years thanks to the push of e-commerce and our end-to-end value proposition”, explains Juan Manzanedo, President and CEO of Logisfashion. “This new center will allow us to cover a need that we had pending, which was to significantly expand our operational capacity to house the interesting projects we have underway and to accommodate new customers,” concludes the manager.
The need for a new distribution center is due to the great growth we have experienced in recent years in Chile. In terms of volume of items managed, Logisfashion Chile has reached more than 10.2 million units shipped so far this year, achieving a growth figure from 2020 to 2022 of more than 500%.
Likewise, our Chilean subsidiary has not only increased its turnover, but has also doubled its operating capacity in the last two years, going from 3 centers to 6 centers and 71,800 m2. With the start-up of this new center as of September, this operational area will amount to 90,000 m2.
“Chile has become a market that increasingly attracts investments from national and international companies, due to the boom of e-commerce, where the number of digital buyers has grown rapidly in recent years”, explains Tomas Cox, country manager of Logisfashion Chile. “The strengthening of our logistics muscle in Chile is a new step forward that will serve as a strategic basis to continue with the growth and expansion of our logistics services, as well as the result of the consolidation of the effort made in recent years”, concludes Cox.
With this strategy, we continue to make progress in our strategic growth plan, with the goal of reaching 160 million euros in turnover in 2023.
