- Chair, S.A.C.I. Falabella (Retail)
Born Iquique, Chile, 1925. BSc. Civil Engineering, Universidad de Chile (1948).
“If a country’s structure is not fixed, it is very hard for businesses to grow and move forward, as business leaders are always wondering―Should I stop now? Should I move on?”
Reinaldo Solari outlines the expansion of Falabella, a multinational chain of department stores owned by a Chilean-based company, which is the largest South American business enterprise in department stores. The interview highlights how Solari pioneered a highly successful consumer credit venture by linking consumer credit with growth in the department stores business, thus creating a successful model of providing consumers credit for purchases. He also relates the philanthropic work of his group to the education sector in Chile. He argues that the success of Falabella was in part due to a willingness to diversify into other sectors, including banking and finance, and the close relationships between company employees and customers.