U.S. clothing retailer Caterpillar (CAT) has partnered with local retailer Alfonso Swett, owner of Forus, to create an experimental retail “Concept Store” in Parque Arauco. If this store is a success, Forus and Caterpillar hope to open 15 stores in Chile within five years.
Plans for the new venture were explained by executives from Wolverine, which has the brand rights to the CAT line. Wolverine executives expressed hope that by working with their Chilean partner Forus, the two companies can open similar locations in Bolivia, Uruguay, Colombia and Peru.
The CAT brand has been in Chile since 1994 and successfully sells Caterpillar shoes for up to US$100 because they function so well in Chile’s climate.
Caterpillar footwear sales have grown sharply and now represent 25 percent of Forus’ total sales. This is why Forus was eager to partner with the CAT brand. Market penetration is at 48 percent with men ages 25 to 30 as the primary consumers.
SOURCE: LA TERCERA
By Lauren Bundy editor@santiagotimes.cl