LATIN AMERICA. Panama-based travel retailer Top Brands International has extended its regional presence by acquiring Mega Shopping, a 1,200sq m operation in Iquique, from Vierci Group.
The store, which offers multiple product categories, will be rebranded under the Luryx name to reflect Top Brands’ retail identity.
Top Brands CEO Danny Yohoros hailed the store as “the largest and most important duty-free shopping destination in the region”.
He said: “This acquisition marks a significant step in Top Brands’ strategy to expand its portfolio and enhance its presence in key markets. 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 is developing a comprehensive marketing campaign aimed at attracting tourists who visit Iquique, turning them into loyal customers. In addition, we are excited to announce plans to launch an ecommerce platform, enabling customers to enjoy a seamless shopping experience online.”
The Luryx name is already established in the Iquique Free Trade Zone (ZOFRI) with 13 stores. The transition to the new brand “reflects our commitment to providing an even more premium and recognisable shopping experience”, said Yohoros.
As part of the development, new brands exclusive to Luryx in Iquique are being introduced, including fashion label Mango.
Yohoros said: “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.”
Top Brands is among the largest duty-free players in the region, with stores throughout Latin America and the Caribbean. It acquired Neutral Duty Free, the largest duty-free chain in Uruguay, in 2019. ✈
