In order to enter Chile, we are going to begin with a joint venture. We are going to have fifty-one percent ownership, leaving the other forty-nine percent to La Polar. TJX will have fifty-one percent ownership in order to hold control over all decisions, as we would be the larger owner. La Polar is the fourth largest retail company in Chile and has 48 stores total - thirty-eight in Chile and five in Colombia. This company is small enough to desire growth and large enough to ensure Chileans learn the TJX name. We believe La Polar would be willing to work with us as we can help increase their financial stability. We decided to choose a joint venture because it is a cheaper way to expand into a new country offering opportunities to prosper.
