Fontana Portmore ready to welcome customers
Pharmacy chain Fontana Limited will today begin to welcome customers at its new Portmore location in what its management is expecting to be a soft opening of its newest store.
CEO Anne Chang, when contacted by the Jamaica Observer on Monday, said she was currently busy and working around the clock to get things in place to facilitate the soft opening on Wednesday.
She further told the Business Observer that while much fanfare and excitement will not accompany the proceedings, a much larger celebration is being planned for a grand opening event timed for November 18, 2023.
“The store is ready and will be open to the public but we still need some more time to fill in the gaps as we work through the kinks to have the store fully ready by then. We have a relatively new team so we are also working to ensure that they are also ready,” Chang said.
The Portmore outlet, which marks the seventh location, was originally scheduled to open last month but a number of hiccups related to supplier and building delays caused those plans to be adjusted and a new timeline for the opening of its Sunshine City store having to be rescheduled to this month.
The store, which spans some 25,000 square feet, Chang said is, however, now being stocked.
“Even with the current port delays, we are fully stocked and ready for the busy Christmas season. We are excited to open Portmore and we look forward to servicing that area in which we believe there is a lot of built-up demand,” she stated.
The 55-year-old pharmacy giant,after closing its last financial year ended June 30, 2023 with increased revenues of $7.3 billion and profits of $655 million, has already said that it expects the new Portmore location, in addition to its other stores in Kingston and St Andrew, St James, Manchester, St Ann, St James and Westmoreland, to drive its performance in the current financial year.
Sales for the company, which have increased by at least $1 million year on year in the last five years, have seen growth as little as 8 per cent to as much as 23 per cent over the period. Revenues in the 2023 financial year which went up by approximately 15 per cent, Fontana’s management said were chiefly driven by demand for its beauty product lines. The company, in capitalising on these demands, also used the opportunity to forge new partnerships with a number of suppliers of beauty and cosmetic products.
“We continue to see exponential growth from the larger stores with healthy competition across the network for top positions. Our ability to adapt to changing market dynamics and capitalise on emerging opportunities has been a key driver of our sustained success. The financial accomplishments and stability achieved in 2023, coupled with our adaptable strategies, position us well for future growth.”
“As we look ahead, Fontana Ltd remains steadfast in its commitment to sustainable growth, innovation, and value delivery to all stakeholders. We acknowledge the potential challenges that may arise, but we are confident that our resilience and strategic approach will continue to drive our company’s success in the coming years,” Chang said in the management analysis and discussion section of the company’s recently published annual report.
“We are very optimistic about our future outlook,” she also said to the Business Observer.