Top Brands has acquired Mega Shopping, a prominent store located in Iquique, Chile, from the Vierci Group. The store, which spans an impressive 1,200 square meters, offers a wide range of product categories, making it the largest and most important Duty Free shopping destination in the region, according to the company. It is the largest single store in the Zofri Shopping Mall in Iquique, which is situated 1800 km, north of Santiago, the Chilean capital.
“This acquisition marks a significant step in Top Brands’ strategy to expand its portfolio and enhance its presence in key markets,” says Top Brands CEO, Danny Yohoros. “Our goal is to not only maintain the high standards of quality and service that Mega Shopping is known for but to elevate the shopping experience for all visitors.”
To achieve this, Top Brands says that it is developing a comprehensive marketing campaign aimed at attracting tourists who visit Iquique, turning them into loyal customers. In addition, the company plans to launch an e-commerce platform, enabling customers to enjoy a seamless shopping experience online.
The store will soon be operating under the name LURYX, Top Brands’ official retail chain brand, which is already well-recognized in ZOFRI with more than 13 stores.
“This transition reflects our commitment to providing an even more premium and recognizable shopping experience,” notes Yohoros.
As part of the transformation, the store will feature exclusive brands, including the internationally renowned Mango franchise, along with many other premium brands available only at LURYX.
“Our diverse selection ensures that we cater to a wide range of tastes and preferences, offering something special for every shopper. We look forward to continuing the legacy of delivering exceptional value and innovation to our customers through this new phase of growth,” says Yohoros.
Mega Shopping was opened in December 2010 by the Vierci Group, a Paraguayan multinational. Vierci is involved in wholesale distribution to the travel retail trade in Uruguay, Paraguay, and Bolivia as well as Chile. The company was initially established more than 50 years ago as a wine and spirits importer and has grown to be the biggest private employer in Paraguay involved in a plethora of industries including distribution, supermarkets, banks, fast-food, TV and radio.
According to the owners, the Zofri Mall is the shopping mall in Chile that has the highest sales per square meter.
The duty free allowance for shoppers is now US$1850 per journey, with a limit of one journey per month. This means that no VAT or Customs Duty is levied on goods below the duty free allowance.
The majority of shoppers at Zofri Mall are from Chile, but shoppers also come from Southern Peru, Bolivia, and Argentina.
TMI understands that The Vierci Group will continue to operate four smaller speciality stores under the Laser fascia in the shopping mall.
Lois Pasternak/John Gallagher
