Forus Heads To Colombia

Chilean clothing retailer Forus has moved closer to entering the Colombian market after agreeing to take a stake in local firm La Maravilla, buying inventory and 21 shops across the country. The retailer has been evaluating its entry into the Colombian market for some time now and has opted for buying into a local company. At the end of last year, Forus, which also has operations in Uruguay and Peru, raised around $45 million after it listed 20% of its capital on the Santiago Stock Exchange to help fund its expansion plans.