PriceSmart’s expansion would make Chile the company’s 14th market and introduce a membership warehouse club model that has not yet been developed in the country. Photo courtesy of PriceSmart
SANTIAGO, Chile, April 23 (UPI) — PriceSmart announced plans to expand in South America, opening its first membership shopping clubs in Chile next year.
The expansion would make Chile the company’s 14th market and introduce a membership warehouse club model that has not yet been developed in the country.
In South America and Central America, PriceSmart already operates in Colombia, Costa Rica, Panama, Guatemala, the Dominican Republic, El Salvador, Honduras and Nicaragua. In many ways, it is similar to Costco in the United States, and they have the same roots.
To formalize the expansion, company executives met Wednesday with Chilean President José Antonio Kast.
“Chile has one of the most developed and competitive retail markets in Latin America, with informed and demanding consumers,” David Price said in a statement.
“We believe our model can offer a unique value proposition based on savings, quality and efficiency, and that the company can become a driver of development for the country and the communities where we will operate,” he said.
The Chilean expansion will be carried out in stages, beginning with development of a supply chain network and identification of local suppliers. The company said it has already assembled a local team to oversee installation and growth plans.
According to Chilean business newspaper Diario Financiero, the first two locations are expected to open in Santiago, with one store planned inside a shopping center and another adjacent to a mall.
PriceSmart, based in San Diego, operates 56 membership clubs, serves more than 4 million cardholders and is listed on the NASDAQ stock exchange.
The announcement comes as several multinational companies have unveiled new investments in Chile since Kast took office in March.
Walmart Chile said it plans to double the size of its distribution center in Santiago through a $200 million project. And Mercado Libre announced a $750 million investment this year to expand logistics operations, grow services and improve technology infrastructure in Chile.
According to Chilean news outlet Emol.cl, more than 90 projects were submitted to Chile’s Environmental Impact Assessment Service between January and March, representing investments totaling $28.439 billion.
The figure marked a 123% increase from the same period in 2025 and was the highest quarterly total recorded since 1992, the report said.
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