STOCKHOLM (Reuters) - Inter IKEA, owner of the IKEA Concept and the worldwide IKEA franchisor, said on Thursday it had signed an memorandum of understanding with S.A.C.I. Falabella FAL.SN to grant franchise rights for IKEA stores in Peru, Chile and Colombia, the first IKEA stores in South America.

The logo of IKEA is seen above a store in Voesendorf, Austria, April 24, 2017. REUTERS/Heinz-Peter Bader

Inter IKEA said the aim was to open at least nine stores in Chile, Colombia and Peru in a period of 10 years, along with online sales channels for these three countries. The first store is expected to open in the city of Santiago at the end of 2020, with Lima and Bogota to follow.

Reporting by Johan Ahlander; Editing by Andrew Heavens

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