PriceSmart is a US Big Box Members’s Only store with 30 stores around the USA, Latin America, and the Caribbean.
PriceSmart opened Colombia’s 2nd and 2rd Members’s Only big box stores in Cali with the help of Invest Pacific. Each store is aproxx. 12.640 m², 5.100 if which are taken up by the shopping area and served by 270 parking spaces. PriceSmart generates nearly 170 direct jobs for the region’s citizens at a USD$40 – million total investment.
José Luis Laparte, President of PriceSmart Inc., expressed his satisfaction over the company’s latest acquisition: “We are pleased to be able to continue to grow in Colombia with our 2nd and 3rd Member’s Only big box stores in Cali, known as Heaven Branch On Earth. Cali was chosen for the way it has marvelously fused its people and its economy”. He added that shoppers always pay less in dynamic big box milieu. Laparte said, “Cali is chock full of opportunities. There is a boom in this town and the in-roads carved by the Free Trade Agreements are a boon for all companies in the region. We have low operating margins and aim to generate merchandise volume through sales”.
PriceSmart’s headquarters are located in San Diego, California. It owns and operate big box member’s only stores in Central America, the Caribbean, and Colmbia. It currently has 29 stores in 12 countries, with 5 in the Americas in Costa Rica; 4 in Panama and Trinidad and Tobago; 3 in Guatemala and Dominican Republic; 2 in El Salvador and Honduras, and 1 each in Aruba, Barbados, Jamaica, Nicaragua, the American Virgin Islands recently in Colombia.