Walmart makes $1.3M investment in Chile
Walmart has announced a five-year, $1.3 billion investment in Chile. The investment includes the opening of 70 new stores across all formats and creation of 4,000 new jobs.
“This is not just an investment in infrastructure and technology; it is an investment in people, in communities,” said Walmart Chile president and CEO Cristián Barrientos. “We are building a better future for everyone, for future generations and for our children. We trust in Chile. We trust in its people. We continue exploring together.”
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Walmart pointed out that due to the complexity of the climate, accessing the southern tip of Chile is not an easy task. The Walmart store in Punta Arenas, known as Lider, is more than 2,000 miles from the central distribution center. Weather can be extreme, resulting in road closures and challenging border crossings. Because of this, Walmart has created supply chain routes by land, air and sea, or a combination of routes, to reach Punta Arenas’ Lider store. When access becomes too treacherous, Walmart utilizes a reserve storage system called “El Oso” (the bear) to ensure customers can still get the essentials they need.
The Punta Arenas team also created an e-commerce strategy to deliver products via ferry to the 25 residents of Puerto Toro, the southernmost permanently inhabited community on earth.
“Stories like these are what drive us,” Barrientos said. “For this reason, the impact of Walmart Chile is not only in Punta Arenas; our value proposition aims to reach every corner of Chile: from Putre in the far north to Biobío in the central south. And to so many other places whose inhabitants motivate us to continue seeking new ways to approach, listen to and serve them... to become their best ally and neighbor.”
Walmart’s continued investment in Chile will mean expansions into new regions of the country like Vallenar, Los Vilos, Pozo Almonte and more. A ninth distribution center will be built in southern Chile.
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In support of Walmart’s global commitment to being a regenerative company by 2040, this investment also includes measures to mitigate climate change and contribute to the restoration and regeneration of nature. Solar panels will be incorporated into more than 50 stores, meaning more than 80% of Walmart Chile’s energy is renewable energy, and 25 new recycling points will be added across the country by 2025.