Opportunities in Building, Decorating and Furnishing

In Panama everything is growing in line with the economy, and consumption of products for building, decorating and furnishing are no exception.

Tuesday, May 8, 2012

Local businesses as Cochez, Doit Center and Novey are taking full advantage of the extraordinary opportunities presented by the development and construction boom in Panama.

Their product range includes bricks, paint, appliances, tools, materials for electricity, bathrooms, accessories and garden products.

Cochez y Cía. -Founded in 1963 by Raul Cochez - is the only public company of the three brands, to be registered on the Panama Stock Exchange. According to a 2011 annual report, Cochez’s net earnings were $5.01 million, up from the $3.21 million achieved in 2010. In 2012, total revenue were $160.7 million, representing growth of 18.5% compared to 2011.

"Panama is no longer a country with a major city, it is a developing country and we have identified several cities whose populations had unmet needs. Our company owes everything to its customers and for this reason, we have decided to expand our distribution network", said Cochez’s vice president, Raul Cochez Maduro.

There are 16 Doit Center stores In the country, which entered the market in 1990 - three of which opened in 2012: Tocumen (December 24), Chitre and Plaza Centennial en route to the Centennial Bridge in Panama City. The portfolio of Doit Center consists of 17 product categories, reports Capital.com.pa.

In regard to the Novey shops, the first of which was founded in 1934 by the Novey family, they have revealed a new image. In 2004, Cochez y Cía. acquired a 100% stake in the business but kept the name. In 2012, Novey has opened three new stores: Coronado, Versailles and Nuevo Arraiján. The 13 stores employ an average of Novey 500 employees and their range of products covers the areas of finishes, electrical, plumbing, home goods, painting and recreation.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Household Appliances and White Goods: New Investments

June 2019

In Costa Rica, the Gollo chain of stores invested $2 million in the opening of three new sales points in Guachipelín, Tibás and San José.

Representatives of the company dedicated to commercialize electrical appliances, furniture and other similar articles, informed that $1 million was invested in the operation of the store in Guachipelín, and in the stores in Tibás and San José, the investment totaled $500,000 each.

The Beer Market in Panama

April 2012

Brewers have reasons to celebrate: per capita consumption grew from 77 to 80 liters in 2011 and production increased by 5%.

Beer is the preferred alcoholic beverage in Panama, with its production having grown by 5.1% (above the average of 2% of the rest of Latin America) in 2011, reported Capital.com.pa.

"Everything for a Dollar"

July 2011

This form of business has reached supermarket chains who are reserving specific areas where everything costs a dollar.

Seeking to position itself among consumers, the Salvadoran chains Súper Selectos and Dollar City have ventured into this format.

Súper Selectos, has incorporated a 'dollar zone' into its outlets.

Panama´s Retail Industry Grows

October 2010

The 9% growth in retail of the first half of 2010 drives expansion of big chains.

Among expansion plans, Doit Center will open this month its 14th branch.

Panafoto plans to open two stores this year at Vía Centenario Mall and next to David, Chiriqui.

Rafael Berrocal, in his article for Prensa.com, reports "also Cochez and Company, the construction materials and household items store chain, plans to open soon its branch number 14th in Chitre, Herrera."

ok