Parque Arauco, a Chilean-listed mall operator, says sales at its Parque La Molina mall in Lima, Peru, were up 30.5% at the close of August versus the same period of 2025. Two footwear brands have nonetheless struggled: one has closed and one is negotiating its exit.

What Parque Arauco Says

Parque Arauco opened Parque La Molina, a lifestyle mall in Lima’s La Molina district, in December 2024 with an investment of US$60 million. The company is listed in Santiago and also runs Larcomar, a mall in Lima.

Sales at the mall were up 30.5% at the close of August versus the same period of 2025, the company says. Visitor traffic is growing at a double-digit rate against the close of 2025, but no numbers were given.

Occupancy is 85%, said Franco Chaparro, commercial manager of Parque Arauco’s Peru division. The target is about 93% by the end of 2026, counting brands about to sign.

More than 20 tenants have opened since the launch, and two brands have changed. The next openings named are Dollarcity, Supermercados Holi, Diverland and La Leña.

The company has said the new openings come in stages through November 2026. The operator says 51% of visitors come from La Molina district, 8% from Ate and 6% from Surco, two other Lima districts, with 25% from districts outside the immediate catchment.

Which Brands Left and Why

Galeanna, a Peruvian handmade women’s-footwear brand, opened its first physical store (70 square metres) in December 2024 and closed it in March 2026. Its founder, Anali Romero, said the closure was about foot traffic: “we saw few people walking around the mall”.

Romero said December was her best month, because families living abroad visit parents in La Molina. She added that the mall lacked a bank or a supermarket.

Clutch, a Peruvian leather footwear and accessories brand founded 13 years ago, opened in March 2025. Its founder, Fiorella Rivero, said in May 2025 that the numbers did not support keeping the store.

She now says she is still negotiating her exit with Parque Arauco, and Clutch keeps its store at El Polo, another mall in Lima. A tenant said at least three more brands may have left in recent months; Parque Arauco did not confirm that number.

Parque Arauco says it is natural for units to turn over in the first years of operation. Galeanna’s former space is in advanced negotiations with a fashion brand.

The company also runs Arauco Pop Up, a low- or no-cost programme that lets emerging brands test a presence before taking a permanent unit. It is meant to lower the risk for young brands.

The Miraflores skyline in Lima. Parque La Molina sits in the city's La Molina district.

What It Means for You

This is a regional mall story. Investors in Chilean retail property can watch whether occupancy nears 93%, though we make no claim of a US listing.

Peruvian brands weighing a first store see both sides. One founder had her best month in December, yet still closed.

Shoppers in La Molina may gain a supermarket and entertainment if the openings go ahead. For background, read Parque Arauco revenue up 17.9% but profit down 30.8%, and see our Peru and Chile coverage.

What Is Not Known

Absolute sales, traffic and rent figures are not public. How many tenants have actually left is also unclear.

We do not know whether the 93% target will be reached by the end of 2026. Parque Arauco’s profit contribution from Peru is also unknown.

The next signings will show which way occupancy moves. Until then, rising sales and closed doors tell two parts of one story.

Frequently Asked Questions

How much have sales at Parque La Molina grown?

Parque Arauco says sales were up 30.5% at the close of August 2026 versus the same period of 2025. It gave no absolute sales figures.

What is the mall’s occupancy rate?

Occupancy is 85%, said Franco Chaparro of Parque Arauco’s Peru division. The target is about 93% by the end of 2026, counting brands about to sign.

Which brands have left Parque La Molina?

Galeanna closed its store in March 2026, and Clutch is negotiating its exit. A tenant said at least three more may have left; Parque Arauco did not confirm that number.

Which brands open next at the mall?

Parque Arauco names Dollarcity, Supermercados Holi, Diverland and La Leña. The company has said the openings come in stages through November 2026.