The Trinidad and Tobago based conglomerate, Neal & Massy has announced plans to invest more than $70 million in Barbados over the next three years.
Delivering the keynote address at the Warrens Super Centre store, where the DaCosta Mannings Classic Credit Card was officially launched for use in all outlets, Thomas Pantin, Chairman of the Retail Line of Business for the Neal and Massy Group, revealed that the money would go towards transforming its Barbados operations.
Pantin said it was his company’s hope that this would help to stimulate economic activity, create jobs in the construction phase of the plans and achieve a net growth in employment within Neal & Massy’s operations beyond where they now existed.
“We also propose to open a new super-combination store on the south of the island. This store will be larger than Warrens with over 80,000 square feet of retail space,” the retail chairman disclosed.
He said the location, which was still subject to Town and Country Planning approval, was expected to come on stream by 2016, and would provide a unique one-stop shopping experience for all customers.
“At Sunset Crest, we plan to refurbish and moderinse the facility. Although this location will be the smallest of those mentioned before, the focus will be the same in terms of the product offerings, assortment and experience,” asserted the business leader.
Pantin said it was important for Neal & Massy operations in Barbados to consistently find ways of competing more effectively, offering greater value to existing customers and attracting new ones, improving the efficiency of the operating model, and setting a platform to grow the business from the medium to long term.
“One of the ways in which we will be meeting these objectives is by creating a single retail offer, and by integrating the businesses of DaCosta Mannings and Super Centre,” he stated.
“Super Centre Warrens will be the first super-combination store format for the Neal & Massy group in Barbados, with over 60,000 square feet of retail selling space. The super-combination store format will combine traditional grocery, general merchandise, home goods, pharmacy and value added services,” pointed out the business leader. (EJ)††