Peruvian Business Landscape Shifts Dramatically in 2025

Major Acquisitions, Leadership Changes, and Market Entrants Signal New Era

A wave of significant corporate transactions and leadership transitions are reshaping Peru’s economic landscape in 2025. From telecommunications sales to retail consolidations and new international players entering the market, these shifts are poised to redefine consumer experiences and investment opportunities across various sectors.

Telefónica Exits Peru in Landmark Deal

After over three decades of operation, Telefónica has concluded its Peruvian business, selling its stake to the Argentine firm Integra Tec International for S/3.7 million (approximately US $1 million). This divestment marks another step in Telefónica’s strategic withdrawal from Latin American markets. The agreement ensures continuity for over 13 million users nationwide.

Market analysts suggest Integra Tec International must navigate potential agreements with creditors to stabilize the business. “Either stabilized or dismantled, these are the only scenarios I see,” commented Martin Reaño Azpilcueta, main partner at reaño financial advisors. “Telefónica took a long time to catch up with the new communication trends. It is a business that was out of date and ended up leaving the market as predictable.” José Ruidias, Professor at the MBA of Pacific Business School, added that this signifies the end of an era, hoping the new ownership brings a more agile and digitally focused approach.

Romero Family Succession at Alicorp

**Dionisio Romero Paoletti** is stepping down as president of Alicorp and the Romero Group after more than 25 years. The leadership transition will see **Manuel Romero Valdez**, representing the fifth generation of the family, assume the presidency of both entities. Valdez, an engineer and economist from MIT with an MBA from Stanford, brings international experience from Credit Suisse and Primax Colombia.

This generational shift is viewed positively, signaling an opportunity for the group to adapt to market changes. “This relay is part of a global trend: young people prepared in front, backed by experienced teams,” noted Reaño. Ruidias concurred, calling it a “positive signal” that paves the way for a new stage and potential shareholder growth.

DBS Beauty Store Expands into Peru

The Chilean beauty chain DBS Beauty Store has officially entered the Peruvian market, a move that followed seven years of effort. With two stores already operating in Lima, the company plans to open a total of 10 locations by the end of 2025. This expansion introduces a new retail model focused on personalized customer service and international brands.

Reaño contrasts DBS’s approach with local competitor Aruma, emphasizing DBS’s focus on customer experience through advisors, unlike Aruma’s more self-service model. However, Ruidias highlights Aruma’s rapid expansion and market penetration, suggesting its strategy of speed, variety, and value positions it strongly.

Chevron Boosts Peruvian Offshore Exploration

The global oil giant Chevron has made its virtual entry into Peru’s offshore oil exploration sector, approved by Peru-Petro. This move, alongside Anadarko’s exploration activities in Lambayeque and Libertad, intensifies competition in the sector. The contracts still await final approval from the Ministry of Economy and the Ministry of Energy and Mines.

Both Reaño and Ruidias see the arrival of a new competitor as beneficial, potentially leading to price advantages for consumers. “The entry of a competitor makes the difference in the price. So, with Chevron’s income we will probably see benefits to the consumer,” explained Reaño.

Auna Lists on Lima Stock Exchange

Health services company Auna has announced its debut on the Lima Stock Exchange, a significant step in its regional expansion strategy across Mexico, Peru, and Colombia. This move aims to enhance liquidity, boost market visibility, and attract further investment into the healthcare ecosystem.

Experts view this listing as a positive development, highlighting the growth potential within the regional health sector. Ruidias noted, “Quoting in the stock market implies undergoing greater financial transparency, which can strengthen the confidence of investors in a key sector such as health.“

Credicorp Undergoes Leadership Realignment

Financial services group Credicorp is implementing leadership changes across three key subsidiaries: Pacific Seguros, Credicorp Capital, and Prima AFP. Effective January 1, 2026, **César Rivera** will transition from Pacific Seguros to be replaced by **Eduardo Montero**. **Galantino Gallo** will move from Prima AFP to manage Credicorp Capital, with **Sergio Vélez** stepping into the Prima AFP role.

Consulted experts see these internal shifts as strategically sound, promoting continuity and openness to new ideas within the organization.

Mall Plaza Consolidates Shopping Center Portfolio

The Chilean group Mall Plaza has acquired Open Plaza Peru’s operations for US $848 million, while Parque Arauco secured Minka for US $108 million. This strategic consolidation is significantly reconfiguring the shopping center business in Peru. Mall Plaza is integrating three Open Plaza properties into its existing portfolio, which includes centers in Trujillo, Comas, Arequipa, and Bellavista.

This period of intense activity highlights a dynamic shift, with foreign investment playing a crucial role in shaping Peru’s major industries. The country’s retail sector, for instance, has seen a notable increase in foreign direct investment, reaching over $2 billion in 2024, according to Peru’s investment promotion agency ProInversión.