January 15 2025  |  Retailers

Top Brands acquires key duty free operation in Chile

By Hibah Noor



Top Brands International continues to strengthen its Latin American presence, systematically acquiring significant operators across the region under its LURYX retail brand


As the newest in Top Brands International’s series of major strategic moves, the company has announced the acquisition of Mega Shopping, a prominent 1,200-square-meter duty free store in Iquique, Chile from the Vierci Group.

Mega Shopping, which stands as the largest and most important duty free shopping destination in the region, will be rebranded under Top Brands’ retail chain brand LURYX, which already maintains a strong presence in The Zona Franca de Iquique (ZOFRI) with 13 existing stores.


As part of the transformation, the new store will feature many exclusive brands available only at LURYX

Premium experience

The newest acquisition represents a strategic expansion of Top Brands’ footprint in Chile’s duty free retail sector, adding to the company’s growing portfolio of premium retail locations across Latin America. The Mega Shopping operation has built a strong reputation in Iquique for its extensive range of product categories and a premium shopping experience.

The Panama-headquartered company has been aggressively expanding its presence in Latin American travel retail through strategic acquisitions of major regional players. In 2019, Top Brands acquired Neutral Duty Free, Uruguay’s largest duty free chain, adding nine border stores across six cities along the Uruguay-Brazil border to its portfolio.

The company further strengthened its position in 2020 by securing a 10-year exclusive contract to operate duty free stores at Silvio Pettirossi International Airport in Asunción, Paraguay, where it developed state-of-the-art retail spaces including a 1,300-square-meter walk-through store in departures and a 500-square-meter store in arrivals.

Transition strategy

As part of the transition plan for Mega Shopping, Top Brands is developing a comprehensive marketing strategy to convert Iquique-visiting tourists into loyal customers. The company also plans to launch an e-commerce platform to provide a seamless omnichannel shopping experience.

“As part of this exciting transformation, we are proud to feature exclusive brands, including the internationally renowned Mango franchise, along with many other premium brands available only at LURYX,” said Top Brands CEO, Danny Yohoros. “Our diverse selection ensures that we cater to a wide range of tastes and preferences, offering something special for every shopper.”

The acquisition of Mega Shopping marks another significant step in Top Brands’ regional expansion strategy. Through these calculated moves, including the addition of this key Chilean location, the company continues to strengthen its position as an increasingly dominant force in Latin American travel retail, systematically acquiring significant independent operators and securing prime retail locations across the region.

More snapshots from Mega Shopping below.

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