París announces reorganization in its businesses in Peru and Chile

1) Peru

• Starting from July 1, 2020, the closure of Paris Peru's operation, which includes 11 stores in the country, will be carried out.
• As the fourth player in the market, the expected results and market share necessary to ensure the sustainability of the operation have not been achieved.
• The employees will be relocated to the Supermarkets Wong and Metro operations, offering them the salary and working conditions of these brands. Those employees who decide not to accept these conditions may opt for a retirement plan.

2) Chile:

• Paris will absorb Johnson stores, creating the new format 'Paris Express,' with a primary focus on the marketing of clothing, footwear, and sports categories.
• The stores that are not absorbed will be closed in the months of July and August 2020.
• The employees will be relocated by Paris to various Cencosud brands, offering them the salary and working conditions of these brands. Those employees who decide not to accept these conditions may opt for a retirement plan.

This brand unification will enable the strengthening of the Paris brand in Chile, generating new commercial, operational, and logistical synergies, bolstering its omnichannel strategy, and striving for greater competitiveness and sustainability, offering improved service, assortment, and quality to its customers.