In 1988 Sears Peru, a well known department store chain, transformed into a company called Saga. Saga merged in 1995 with the Chilean retailer Falabella and a new big player in the Peruvian department store game was born. Over the coming years Saga Falabella constantly expanded in Lima and Peru. Today they offer their customers a wide range of fashionable clothes, shoes, beauty products, household appliances, toys, furniture and accessories.

The Oechsle department store has an almost legendary status. Being the first department store in Lima at the beginning of the 20th century and the only one where the upper class could get elegant and stylish items nowhere else to find in Lima, it went bankrupt in the 1990s. In 2009 Oechsle re-opened again and is expanding in Lima and Peru's provinces.