In the 1990s it began a process of internationalization and expanded its operations to Argentina, Peru (where it traded as Saga Falabella until 2018) and Colombia.

Some of the celebrities who have appeared in its ads are Cecilia Bolocco, Valeria Mazza, Juanes, Kate Moss, Gisele Bündchen and Ricky Martin [8][9][10] On May 17, 2007, Falabella agreed to merge with D & S to form the largest retail company in Chile, but a ruling of the Court of Defense of Free Competition on January 31, 2008, rejected the operation, giving as fundamental arguments that the merger would produce a huge change in the market structure, creating a company that would be the dominant player in integrated retail and all its segments and a substantial and lasting decrease in the conditions of competition of the market that would be detrimental to consumers.

In January 2019, the closing of Linio Ecuador and Panama was announced with the aim of focusing efforts in countries where it has strategic capabilities to improve the value proposition of its market platform.

During 2020, due to the pandemic, Falabella constantly supported the community with the program "Programa Haciendo Escuela", which since 1969 has been contributing comprehensively to the students and families of the schools it sponsors.

In April of that year was adapted and “Haciendo Escuela en tu casa” was born, available to all children in Chile with educational content from the Mineduc and also with didactic and recreative material.