In recent months, major companies in the retail, fashion, beauty, and mass consumption sector arrived in Medellín and the Metropolitan Area for the first time. Others expanded their network of stores and shops in the city, as part of their growth plan in Colombia and Latin America.
Medellín and the Metropolitan Area become stronger as attractive destinations for the installation of major international retail, fashion, and beauty brands.
European, Asian, and Latin American companies bet on the local market and the region’s capabilities, such as the stability of its economy and the elimination of entry barriers. International brands such as Miniso, OBoticario, H&M, Tumi, and Falabella arrived in the city, generating jobs and connecting the customers with the rest of the world.
The potential of the local market, its economic stability, and its incentives to promote investment are the main reasons for these companies to keep arriving in the city.
For instance, Falabella is one of the companies that decided to expand its network of stores in the city, after its first opening in 2007. The Chilean retail company opened its third store in Medellín in the Arkadia shopping center. With this store, Falabella responds to sustainability standards in buildings and also develops a social responsibility program called “Making School,” in which they sponsor an educational institution located in its area of influence. With this school, there are already three educational institutions supported by the company in the city and 28 in the country. The program consists of the adaptation of facilities, volunteering of its employees, and welfare activities for the community.
Falabella has 26 stores in Bogotá, Cali, Medellín, Pereira, Barranquilla, Cartagena, Villavicencio, Ibagué, Bucaramanga, and Manizales. It generates more than 4,600 direct jobs and impacts more than 29,000 children. and young people in their educational environment.
The impact of international brands boosts local employment and develops social responsibility actions with communities.