The decision to build a new PriceSmart outlet at La Romaine is a reflection of the positive state of the local economy, company president Jose Luis La Parte has said.
PriceSmart generated $1.2 billion in sales in Trinidad last year.
The new shopping location, at Lucky Street, South Trunk Road on the outskirts of the city of San Fernando, is the fourth PriceSmart warehouse membership club. It was formally opened Thursday night. Nine officials cut one ribbon to declare the outlet open to the public.
La Parte said when the first outlet opened in Trinidad it was ’not an easy task but took a lot of effort to keep it growing.’ Business boomed so much that Trinidad, the regional headquarters for the Caribbean, is the only island in the Caribbean to have four PriceSmart outlets. There are six outlets in other Caribbean islands and dozens in Central America.
The warehouse club membership concept was started by Sol Price in San Diego, California USA 34 years ago (under another name) and introduced to Trinidad in 1996. The first branch in Invader’s Bay/MovieTowne, was followed by Chaguanas and Mausica.
La Parte said the total sales figures in Trinidad last year were $1.2 billion, but declined to give a profit figure. To be complete before year end is a commercial retail centre adjacent to the newest PriceSmart to make it a one-stop shop, said La Parte.
The opening was attended by Robert Price, co-founder and CEO of PriceSmart Inc, and San Fernando Mayor Kenneth Ferguson. The ribbon was cut by executive vice president for Buying Tom Martin, operational manager Trinidad Dhanraj Mahabir, country manager Ben Woods, chief operations officer Bill Naylon, senior vice president operation John Hilderbrant, warehouse manager Vashti Maharaj, CEO Robert Price, Mayor Ferguson and La Parte.
By: Phoolo Danny Maharaj
Via :Trinidad Express