The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A leading fashion retailer is expanding its operations to western New Providence with the opening of its third store in the Old Fort Bay Town Centre, a move designed to increase market share and provide more convenience to a considerable section of its customer base.

Chinarae Pratt, managing director of United Colours of Benetton, told Tribune Business she expected to open a third location in the Old Fort Bay Town Centre during the second week in July.

Ms Pratt told Tribune Business: “It’s a smaller store, about half the size of our downtown store. Hopefully we will be open in the second week of July. That will be our third location. The first store that was opened was the ladies and kids store, and then we opened up a second location in September, which is two doors down on Bay Street from the ladies store and that’s the men’s store.”

She added: “I think it’s going to go really well. We have a lot of customers based in Old Fort Bay, Lyford Cay and Charlotteville who basically live and work in the far western district.

“Some of them have cut back on coming downtown because of roadworks, traffic and the lack of parking. We’re really just trying to grab back more of our market that is out there; to make it more convenient for them.

“They have a lot of new gated communities that I think are going to generate good traffic into the area, and there’s a whole different clientele. I also didn’t want a store that was going to be too close to give our downtown outlet competition.”

Ms Pratt said that while she currently employ s six staff, she may decide to take on some additional staff at Old Fort Bay in the future.

She explained that the Old Fort Bay location was “pretty much ready to go,” with lower than normal start-up costs.

“They basically didn’t just provide us a shell. They [New Providence Development Company] did more than the average landlord would do. The walls were already plastered, a very thick first coat of paint was on, the sealing was already in and outlets. They provided a good bit, so the initial investment wasn’t near what I have encountered before. It was pretty much ready to go,” Ms Pratt said.

Speaking on Benetton’s downtown operations Ms Pratt said that while the Bahamian customer base was still strong, there was a noticeable decline in the tourism side of the market.

She said: “Downtown right now is Ok. The men’s store is doing exceptionally well. I’m thinking that’s due to the lack of competition. It’s a new, trendy type store.

“Here, I have seen a decline in tourists. I’m noticing that people coming off the cruise ships are going towards the Straw Market and continuing in that direction. I have seen a little bit of a decline in the tourist market.

“The Bahamian market is still pretty much steady. The tourist market is only about 20 per cent of our business, and 80 per cent is local.”