Paris opens its second store in Peru

Santiago, May 30, 2013.- Paris inaugurated its second store in Peru at Plaza Lima Norte shopping center. With 8,000 m2 and two floors, the new department store involved an investment of over USD 7 million and stands as the second out of a total of six locations that Cencosud plans to open during 2013, with an investment totaling USD 42 million.

"We are thrilled to enter Lima, a highly competitive market that we believe is seeking a significant change in terms of service, and that is precisely our proposition: PARIS aims to be recognized as the department store that offers the highest level of service to its customers. We want the shopping experience to be unparalleled, as we have all the expertise that sets WONG stores apart. In that sense, we are already setting a precedent in Arequipa with our first store, and now we want to conquer Lima with that attribute."

Felipe Bayly, General Manager of Paris in Peru.

So far, Paris has implemented three distinct services in the store: Personal Shopping Advisors in the women's shoe section, Smart Fitting Rooms in the women's clothing section, and Checkout Centers with three to four service counters, featuring comfortable spaces to streamline the purchasing process.

In Lima, Paris expects the average ticket size to be higher than in Arequipa, as sales of "big-ticket" items may have a greater presence in the local market, such as appliances, mattresses, and furniture. Regarding the impact that Paris has had on attracting Cencosud cardholders, it grew by 20% in Arequipa, and now with Lima, an increase of 10% is expected.

On the other hand, Bayly mentioned that the next store to be inaugurated in Peru will be located in Cajamarca:

"We expect to open at the end of June, with a format of 6,000 m2 and an investment close to USD 6 million."

PARIS

In March 2005, CENCOSUD entered the retail industry through the acquisition of Empresas Almacenes París S.A., one of the largest Chilean companies in this industry. Cencosud's internationalization of this business segment took place in Peru, choosing Arequipa Center as the location. PARIS officially commenced operations in Peru on Tuesday, March 26, 2013