Komax has acquired a majority stake in SiSi, the leading underwear retailer in Uruguay, to expand its operations and diversify its brand portfolio in South America.

Information on the Target

Komax, a prominent Chilean retailer, has recently acquired a majority stake in SiSi, an established underwear retailer in Uruguay. SiSi, founded in 1962, is the leading chain in Uruguay for lingerie and underwear, operating 57 multi-brand stores consisting of 44 owned and 13 franchised locations. The company generates approximately US$40 million in annual sales and offers a diverse range of products, including accessories, beauty items, beachwear, sleepwear, and athletic gear.

The decision to invest in SiSi comes as part of Komax's strategic expansion to extend its operations beyond Chile and Peru. With the acquisition, Komax aims to leverage SiSi's strong market position and expertise in the underwear segment, effectively consolidating its brand portfolio.

Industry Overview in Uruguay

The retail industry in Uruguay has shown stable growth, supported by a resilient economy and increasing consumer spending. The market for apparel, especially in the underwear and lingerie