Mexico Retail News: Chilean Retailer Ripley Ends Deal with Palacio de Hierro
Ripley, a Chilean department store, has ended a proposed deal with Mexican department store retailer El Palacio de Hierro. The deal, signed in 2007, would have had Ripley investing a total of $400 million USD over a 4 year period. Both retailers decided it was best to hold off until both countries economies have recovered.
The two retail groups were going to target Mexico's rising middle class. Although the deal was called off, both Palacio and Ripley have not ruled out the possibility of a deal together in the future.