New Investments in Clothing Stores

In Costa Rica, AR Retail company plans to invest $6.2 million in the next few years to start up nine stores in the Greater Metropolitan Area.

Wednesday, January 30, 2019

The company's plan to commercialize the brands GAP, Banana Republic and Old Navy, is to launch the first two stores in 2019, another three in 2020 and the remaining four in the following years.

You may be interested in "Clothing: Imports increase 3%"

Antonio Burgos, AR Retail director, told Elfinancierocr.com that "... Costa Rica is a very attractive market for the company, among other reasons, for being stable with optimal economic conditions to develop business. The country will be the gateway for brands in Central America and the Caribbean, since after making the openings in national territory, the company plans to open stores in Panama, Nicaragua, Honduras, El Salvador, Guatemala, Jamaica, Trinidad & Tobago and the Dominican Republic."

Burgos added that "... The competition is healthy, we are very pleased with the presence of other fashion brands in the country. In our case, we will stand out by offering competitive prices and a product that is very well positioned in the minds of consumers."

Figures from the Trade Intelligence Unit at CentralAmericaData show that during the first quarter of 2018 the main importer of clothing and accessories in Central America was Panama, with $112 million, followed by Costa Rica, with $67 million, El Salvador, with $65 million, Guatemala with $48 million, Honduras with $29 million and Nicaragua, with $12 million.

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More on this topic

Clothing and Accessories: New store in Costa Rica

March 2020

The American clothing and accessories brand Banana Republic opened its first store on Avenida Escazú and has a 300 square meter customer service area.

AR Holdings, administrator of the franchise, reported that this is the first of several stores that the conglomerate plans to open in the coming years in the region, specifically in Guatemala, Panama and the Dominican Republic.

Clothing: New Investment in Panama Announced

January 2020

The Swedish chain of stores Hennes and Mauritz announced that among its expansion plans is the opening of a sales point in Panama, which would be the first in Central America.

According to an official statement that was released in mid-January, the plan of the company Hennes and Mauritz (H&M) is that its first store in the region will be open to the public by the end of the year.

Clothing: New Investment in Costa Rica

August 2019

The Colombian company Patprimo invested in the opening of two stores located in Curridabat and Escazú, with an estimated investment of around $800 thousand.

The South American company reported that the investment in the operation of the premises in Multiplaza Curridabat and Multiplaza Escazú totaled $800,000, and will sell clothing such as dresses, shoes, accessories, jeans, blouses, casual clothing and underwear, among other items.

Retail: Strategies for Attracting Millennials

April 2019

Offering low prices, promotions and discounts similar to those found in U.S. stores, is part of the bet that AR Retail seeks to attract customers, especially millennial, in the Costa Rican clothing market.

At the beginning of 2019, AR Retail, a company dedicated to the marketing of the brands GAP, Banana Republic and Old Navy, reported that it plans to invest $6.2 million over the next few years in the start-up of nine stores in the Greater Metropolitan Area.

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