Chile’s Falabella Founders Keep Selling Down Their Stake
Chile · Markets
Key Facts
- Sale complete Paola and Giorgianna Cuneo sold 25 million shares on 13 August 2026. That equals 1% of Falabella.
- Price paid The shares brought in CLP 157,504 million, which is about US$172.7 million. Each share sold for CLP 6,300.20.
- Ownership drop After this sale, the Cuneo family’s combined holding went down to 8.24%.
- Total sales In 2026, the founding families sold 2.49% of Falabella. They raised about US$439 million in total.
- Earlier sales Bethia sold two parts in January, and Mis Inversiones sold on 23 January. DT D y D sold 0.12% on 19 June.
- LarrainVial pause The LV Enfoque fund stopped taking new money on 17 August. This pause is temporary.
The Cuneo family sold a 1% block on 13 August, while LarrainVial paused new contributions to a fund and Mallplaza revived a shopping centre project.
Chilean retailer Falabella’s founding families have sold 2.49% of the company during 2026. The latest sale was a 1% block by the Cuneo family on 13 August.
Cuneo family sells 1% block
The Cuneo family sold 25 million Falabella shares on 13 August 2026. That is 1% of the retail company.
Bethia, tied to the Heller Solari family, sold two tranches. The first was 12.5 million shares for CLP 79,375 million on 20 January.
The second was 12.5 million shares for CLP 81,375 million on 23 January.
Paola Cuneo sold through Inversiones Santa Victoria SpA. Giorgianna Cuneo sold through Inversiones Cinque Terre SpA.
Each sold 12.5 million shares at an average price of CLP 6,300.20 each. The total value was CLP 157,504 million, about US$172.7 million.
The broker LarrainVial executed the block trade at about 10:30. After the sale, the Cuneo family’s combined holding fell to 8.24%, down from about 9.24%.
Founding families reduce stakes through 2026
The Cuneo sale is part of a wider trend. The founding families have sold 2.49% of Falabella in 2026.
These sales total CLP 401,549 million, about US$439 million, based on filings with Chile’s securities regulator, the CMF.
Mis Inversiones SpA, linked to the Del Rio Goudie family, sold 10 million shares, 0.39%, for CLP 65,100 million on 23 January. DT D y D, linked to Juan Pablo del Rio, sold 3 million shares, 0.12%, for CLP 18,195 million on 19 June.
LarrainVial pauses fund contributions
On 17 August 2026, LarrainVial’s LV Enfoque fund stopped new contributions for a while. The fund had about US$640 million at the end of July.
The manager wants to check if market liquidity levels will stay. Redemptions still work, and there are exceptions for planned savings plans and dividend reinvestment.
This is about the fund’s size and market liquidity, not a problem with the Santiago exchange.
Mallplaza revives Concón project
Separately, Mallplaza restarted a long-paused mall project in Concón. It shared the new design on 17 August 2026.
The project will be an open-air lifestyle centre at Bosques de Montemar. It will cost about US$80 million and have 50,000 square metres of leasable space, with around 200 shops.
The 2012 plan was 60,000 square metres and US$120 million, but it was dropped in 2024. The land has been involved since a purchase in 2011.
Mallplaza has talked with local residents and authorities about the new plan. Building is expected to finish around 2030.
Why this matters for investors
If you own Falabella shares, watch how they are sold. When founding families reduce their shares, it often means they see limited future gains.
The stock closed at CLP 6,180 on 14 August, the last close before Monday. That is the key price point to watch.
For those invested in Chilean retail, the Concón project is positive. It shows Mallplaza is willing to invest in growth after years of delay.
LarrainVial’s role as broker is notable. It handles major block trades, and its fund pause reflects a cautious stance on liquidity.
Who else has been selling
The Cuneo block was not the first sale this year. Bethia, the vehicle of the Heller Solari family, sold two tranches in January.
The first was 12,500,000 shares for CLP$79,375 million (about US$87 million) on 20 January. The second was another 12,500,000 shares for CLP$81,375 million (about US$89 million) on 23 January.
On the same day in January, Mis Inversiones SpA, linked to Del Rio Goudie, sold 10,000,000 shares — 0.39% of the company — for CLP$65,100 million (about US$71 million).
DT D y D, linked to Juan Pablo del Rio, followed in June with 3,000,000 shares, or 0.12%, for CLP$18,195 million (about US$20 million).
What Mallplaza is actually reviving
The Concon project has a long history. Mallplaza bought the land in 2011 and drew up a plan in 2012 for 60,000 square metres at a cost of about US$120 million.
That version was dropped in 2024. What returns now is smaller and open-air.
The new plan is about US$80 million for 50,000 square metres of leasable space and around 200 shops at Bosques de Montemar. It is due to open in 2030.
Frequently Asked Questions
Who sold Falabella shares in August 2026?
Paola and Giorgianna Cuneo sold 25 million shares on 13 August. Each sold 12.5 million shares through their investment vehicles.
How much did the Cuneo family receive from the sale?
They received CLP 157,504 million, about US$172.7 million. The average price was CLP 6,300.20 per share.
How much of Falabella have the founding families sold in 2026?
They sold 2.49% of the company in 2026. This raised about CLP 401,549 million, or US$439 million.
Why did LarrainVial pause new contributions to its LV Enfoque fund?
The fund manager wanted to see whether current market liquidity levels hold. Redemptions are unaffected, and there are exceptions for systematic plans and dividend reinvestment.
Connected Coverage
Chile Markets: IPSA & the Peso — August 12, 2026
Sources: Fotos: Mallplaza reactiva proyecto para levantar un centro .; Accionistas de Falabella venden títulos de la compañía por U; Bolsa chilena abre al alza mientras Falabella busca …; Hermanas Cúneo venden US$170 millones en acciones de Falabel; Falabella S.A. presenta sus resultados del segundo trimestre
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