MEXICO CITY, Nov 16 (Reuters) - Chile's retailer Falabella started a $800 million to $1 billion asset sale, a company executive said on Thursday during a call to discuss third-quarter results, adding the move aims to strengthen the firm's financial position.

Falabella on Tuesday reported it had trimmed net losses in the third quarter, though it remained in the red, hit primarily by a drop in sales at it stores. (Reporting by Valentine Hilaire; Editing by Sarah Morland)