Empresas Hites S.A. (Chile)

Empresas Hites S.A. is a company located in Santiago, Chile. It was founded in 1940 by the Hites brothers, who opened their first commercial store. In 1960, the company started manufacturing its own home appliances such as washing machines, refrigerators, and stoves, which were sold both in stores and door-to-door. In 1968, Comercial Hites y Cía. Ltda. was established to centralize the operations of Empresas Hites. Due to the increasing demand for white goods and electronics, the company began importing these products in 1974, leading to the opening of larger stores. In 1987, the concept of multistores was introduced, with the first one located on Alameda Street 775, offering clothing and home departments. This format was maintained for subsequent store openings. In 1990, the company focused on promoting credit sales through improved structuring and information technologies. The first Súper Crédito Hites cards were issued, popularizing credit sales. In 2000, "Empresas Hites S.A." was created. From 2001 to 2003, the company underwent a restructuring process, incorporating the "Avance en Efectivo" and "Compras en Comercios Adheridos" products into Tarjetas Hites. Between 2005 and 2007, multistores were opened in Puente Alto, Maipú, Estación Central, San Bernardo, Temuco, and Concepción. In 2008, the Antofagasta multistore was inaugurated, and the company registered with the SVS. In 2009, Empresas Hites S.A. underwent a capital increase through a stock market opening. In 2010, the Osorno store was opened, expanding Hites' regional presence.