Ripley expands investments in Peru across malls and banking

Ripley Corp is reinforcing its expansion strategy in Peru, which has turned into the primary operational engine for the retailer. In the second quarter of 2026, the company's EBITDA in Peru rose 10.5% to 32,579 million Chilean pesos, far outpacing the 13,349 million Chilean pesos recorded in Chile. In 2025, Peru represented close to two-thirds of the firm's total EBITDA, even though sales in Chile remain roughly double those of the international operation.

The performance across Peruvian divisions was driven by retail revenues climbing 13.6%, banking revenue advancing 9.7%, and real estate growing 11.1%. Its shopping center subsidiary, Mall Aventura, operates five locations across Arequipa, Chiclayo, Iquitos, and Lima (Santa Anita and San Juan de Lurigancho). Occupancy reached around 98%, and Ripley already announced a plan to add 40,000 square meters of leasable area by 2029.

Ripley CFO Werner Geissbühler noted that the team continues to evaluate organic and inorganic growth options, such as buying land, expanding existing malls, or acquiring other shopping centers. In banking, Peruvian loan portfolios rose 8.7% year over year in the second quarter, compared to 18.5% in Chile. Geissbühler pointed out that lower market penetration in Peru offers greater room for growth as the group develops new digital features.

The company also plans to pivot retail away from large department stores toward smaller formats and online commerce. Ripley has accumulated 30 stores, 5,900 employees, and roughly 700 million US dollars in investments across Peru over three decades.