Onemart, part of the OM Holdings International (OM) Inc group which offers rideshare technology via its proprietary, Rydeum, in Jamaica, has chosen the up-market British Virgin Islands for another of its business lines, this time groceries.

OM Holdings International (OMHI) Inc operates a multi-tenant on-demand technology platform for the delivery of goods and services throughout the Caribbean from a single mobile app.

OMHI was formed through the fusion of Rydeum, an on-demand technology platform founded by Mark Hannah in 2019, and OneMart, a 35-year-old grocery store founded by Mark Vanterpool in 1986.

The OMHI technology subsidiary Rydeum partnered with JUTA in Jamaica (12,000 drivers) in 2021.

On August 4, 2021, OMHI announced the formation of OneMart convenience stores and the construction of the first OneMart convenience store in Baughers Bay, Tortola, BVI.

The company signed a 25-year lease on the Baughers Bay property and will open a 3000-square-foot store in November 2021, taking advantage of the Christmas shopping season. The store will offer smaller SKUs of OneMart super store merchandise alongside a small bakery, pizzeria, and delicatessen.

The concept is to service customers with convenience store products, both in-store or delivered right to their doorsteps, to make shopping as easy as possible, said Mark Vanterpool, president and CEO of OMHI.

The new store is located in a densely populated area near several large apartment buildings and many individual homes, as well as two schools, churches, and a public works office.

OMHI already has two stores under construction on Tortola, a 22,000-square-foot OneMart Super store slated to open this December in Fat Hogs Bay, and a Builders Depot store expected to open in third quarter 2022, while management continues to evaluate new sites for additional super stores and convenient community stores.

In Jamaica, Rydeum executed a five-year contract with the Jamaican Union of Travelers Association (JUTA), a not-for-profit organisation based in Montego Bay. JUTA, founded in 1960 with 50 drivers, now boasts 12,000 drivers, OM said.

Rydeum Caribbean will receive a percentage of gross bookings from JUTA that is typical for mobile app providers in the transportation industry.

OM said Rydeum’s relationship with JUTA will position the company to expand beyond transportation into delivery and other professional services that require drivers in Jamaica.

The company indicates that the Rydeum platform can be adapted for many business-to-consumer (B2C) and peer-to-peer (P2P) business needs, and OMHI intends to approach third-party vendors in Jamaica to expand the use of DoGetGo throughout the country.

OMHI, headquartered in Miami, Florida, has operations both in the Caribbean and the United States.

For the third quarter ended May 31, 2021, sales revenue reached US $7,361,292 as compared to US $7,421,909 for the same prior year period.

For the nine months ended May 31, 2021, revenue reached US$20,629,528 as compared to US$21,493,749 for the same prior year period.

The net income for nine months, which exceeded US$1 million, reflected a five per cent decrease over the previous year because of the novel coronavirus pandemic effect.