Exhibit 8.1

Subsidiaries



|                                                  |  |           |  |                   |      |  
|------------------------------------------------- |  | --------- |  | ----------------- | ---- | -
|Company name                                      |  | Country   |  | Controlling Stake |     
|Cencosud Retail S.A.                              |  | Chile     |  |                   | 99.9 | %
|Jumbo Administradora Norte S.A.                   |  | Chile     |  |                   | 99.9 | %
|Jumbo Administradora Temuco S.A.                  |  | Chile     |  |                   | 99.9 | %
|Santa Isabel Administradora Norte Ltda.           |  | Chile     |  |                   | 99.9 | %
|Santa Isabel Administradora Sur Ltda.             |  | Chile     |  |                   | 99.9 | %
|Santa Isabel Administradora S.A.                  |  | Chile     |  |                   | 99.9 | %
|Paris Administradora Sur Ltda.                    |  | Chile     |  |                   | 99.9 | %
|Paris Administradora Ltda.                        |  | Chile     |  |                   | 99.9 | %
|Logística y Distribución Paris Ltda.              |  | Chile     |  |                   | 99.9 | %
|Jumbo Supermercados Administradora Ltda.          |  | Chile     |  |                   | 99.9 | %
|Cencosud Corredores de Seguros y Servicios S.A.   |  | Chile     |  |                   | 99.9 | %
|Administradora de Servicios Cencosud Ltda.        |  | Chile     |  |                   | 99.9 | %
|Viajes Paris S.A.                                 |  | Chile     |  |                   | 99.9 | %
|Eurofashion Ltda.                                 |  | Chile     |  |                   | 99.9 | %
|Administradora TMO S.A.                           |  | Chile     |  |                   | 99.9 | %
|Meldar Capacitación Ltda.                         |  | Chile     |  |                   | 99.9 | %
|Sociedad Comercializadora de Vestuarios FES Ltda. |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons Puente Alto S.A.                     |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons S.A.                                 |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons Maipú S.A.                           |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons Puente S.A.                          |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons Viña del Mar S.A.                    |  | Chile     |  |                   | 99.9 | %
|Johnson Administradora Ltda.                      |  | Chile     |  |                   | 99.9 | %
|MegaJohnsons Quilin S.A.                          |  | Chile     |  |                   | 99.9 | %
|Johnsons Mega San Bernardo S.A.                   |  | Chile     |  |                   | 99.9 | %
|Cencosud Retail Administradora Ltda.              |  | Chile     |  |                   | 99.9 | %
|Easy S.A.                                         |  | Chile     |  |                   | 99.6 | %
|Easy Administradora Norte S.A.                    |  | Chile     |  |                   | 99.6 | %
|Cencosud Administradora de Tarjetas S.A.          |  | Chile     |  |                   | 99.9 | %
|Cencosud Servicios Integrales S.A.                |  | Chile     |  |                   | 99.9 | %
|Cencosud Shopping Centers S.A.                    |  | Chile     |  |                   | 99.9 | %
|Sociedad Comercial de Tiendas S.A.                |  | Chile     |  |                   | 99.9 | %
|Inmobiliaria Bilbao Ltda.                         |  | Chile     |  |                   | 99.9 | %
|ACC Alto las Condes Ltda.                         |  | Chile     |  |                   | 44.9 | %
|Costanera Center S.A.                             |  | Chile     |  |                   | 99.9 | %
|Inmobiliaria Santa Isabel S.A.                    |  | Chile     |  |                   | 99.9 | %
|Comercializadora Costanera Center S.P.A.          |  | Chile     |  |                   | 99.9 | %
|Banco Paris S.A.                                  |  | Chile     |  |                   | 99.9 | %
|Banparis Corredores de Seguros Ltda.              |  | Chile     |  |                   | 99.9 | %
|Cencosud Internacional Ltda.                      |  | Chile     |  |                   | 99.9 | %
|Jumbo Argentina S.P.A.                            |  | Chile     |  |                   | 99.9 | %
|Cencosud Internacional Argentina S.P.A            |  | Chile     |  |                   | 99.9 | %
|Cencosud S.A. (Argentina)                         |  | Argentina |  |                   | 99.9 | %
|Unicenter S.A.                                    |  | Argentina |  |                   | 99.9 | %
|Jumbo Retail Argentina S.A.                       |  | Argentina |  |                   | 99.9 | %
|Agrojumbo                                         |  | Argentina |  |                   | 87.4 | %
|Blaisten S.A.                                     |  | Argentina |  |                   | 99.9 | %
|Cavas y Viñas El Acequion S.A.                    |  | Argentina |  |                   | 99.9 | %
|Carnes Huinca S.A.                                |  | Argentina |  |                   | 50.0 | %
|Agropecuaria Anjullon S.A.                        |  | Argentina |  |                   | 99.9 | %
|Corminas S.A                                      |  | Argentina |  |                   | 99.9 | %
|Invor S.A.                                        |  | Argentina |  |                   | 99.9 | %
|Pacuy S.A.                                        |  | Argentina |  |                   | 99.9 | %
|Supermercados Dave S.A.                           |  | Argentina |  |                   | 99.9 | %
|SUDCO Servicios Regionales S.A.                   |  | Uruguay   |  |                   | 100  | %
|Cencosud Colombia S.A.                            |  | Colombia  |  |                   | 99.9 | %
|Cencosud Brasil S.A.                              |  | Brazil    |  |                   | 99.9 | %
|Gbarbosa Holding LLC                              |  | U.S.A     |  |                   | 99.9 | %



---

|                                        |  |         |  |                   |      |  
|--------------------------------------- |  | ------- |  | ----------------- | ---- | -
|Company name                            |  | Country |  | Controlling Stake |     
|Gbarbosa Holding S.A                    |  | Brazil  |  |                   | 99.9 | %
|Cencosud Brasil Comercial Ltda.         |  | Brazil  |  |                   | 99.9 | %
|Mercantil Rodrigues Comercial Ltda      |  | Brazil  |  |                   | 99.9 | %
|Perini Comercial de Alimentos Ltda.     |  | Brazil  |  |                   | 99.9 | %
|Cencosud Perú                           |  | Peru    |  |                   | 99.9 | %
|Teledistribución S.A.                   |  | Peru    |  |                   | 99.9 | %
|Almacenes Metro S.A.                    |  | Peru    |  |                   | 99.9 | %
|E. Wong S.A.                            |  | Peru    |  |                   | 99.9 | %
|Cencosud Retail Peru S.A.               |  | Peru    |  |                   | 99.9 | %
|Tres Palmeras S.A.                      |  | Peru    |  |                   | 99.9 | %
|Las Hadas Inversionistas S.A.           |  | Peru    |  |                   | 99.9 | %
|Cinco Robles SAC                        |  | Peru    |  |                   | 99.9 | %
|ISMB Supermercados S.A.                 |  | Peru    |  |                   | 99.9 | %
|Travel International Partners Perú S.A. |  | Peru    |  |                   | 99.9 | %
|Banco Cencosud S.A.                     |  | Peru    |  |                   | 99.9 | %



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