Abed’s expanding

Another Abed’s store is coming to the island soon and the Barbadian establishment also plans to expand across the Caribbean.

The growth plans were revealed over the weekend by Abed’s Managing Director Eddie Abed as he, along with the company’s 80-plus staff and over 20 associate firms, celebrated the retail fabric store’s 50th anniversary at the Radisson Aquatica Resort.

02-11-14 More Abed's coming -Abed- Photo 2
Abed’s Managing Director Eddie Abed

“It will not be long before there will be another Abed’s megastore in Barbados. In addition, we intend to build on our wholesale distribution in the Eastern Caribbean as well as examine the continued interest from a number of islands to franchise the Abed’s retail store brand,” he told the gathering.

“Our guarded optimism will shape and secure growth, but this will not only come through bricks and mortar retail outlets. The age of the Internet is undoubtedly upon us. We are set to embrace online sales through Facebook, twitter and the like.”

Minister of Finance Chris Sinckler, who was the guest speaker for the event, complimented Abed’s for its steadfast approach to business and community development.

“When you consider the fact that in all of those recessions there were major upheavals to business, not only globally but domestically as well, and this company has been able to weather those storms and to come out as a shining beacon . . . it’s something that we really should celebrate,” he said.

2 Responses to Abed’s expanding

  1. Jason Bowen
    Jason Bowen November 3, 2014 at 8:18 am

    Though I wish them well with expansion, and it may employ some more people this will consume foreign exchange. Barbados needs expansion in the productive sectors like tourism, agriculture, manufacturing. These will employ more people but increase foreign exchange reserves

    Reply
    • Les Carr
      Les Carr November 3, 2014 at 9:45 am

      Impressive comment….So true…..distribution and retail can only go so far in addressing Barbados’ fundamentally foreign exchange earning initiative will be the saving grace.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *