Business
PesoRama Celebrates Grand Opening of 20th Store in Cuemanco, Mexico
Toronto, Ontario--(Newsfile Corp. - May 5, 2022) - PesoRama Inc. ( TSXV: PESO ) (" PesoRama ...
About this update from Pesorama Inc
[{"type":"text","content":"PesoRama Celebrates Grand Opening of 20th Store in Cuemanco, MexicoToronto, Ontario--(Newsfile Corp. - May 5, 2022) - PesoRama Inc. (TSXV: PESO) (\"PesoRama\" or the \"Company\"), a Canadian company operating dollar stores in Mexico under the JOi Canadian Stores brand, today announces the grand opening of its 20th store in Mexico. This new store is PesoRama's first street front location and is situated in Cuemanco, a burgeoning business hub in southern Mexico City, with a mix of large and small retailers, entertainment and dining options.\"Today is a day of celebration as we reach the milestone of opening our 20th store,\" said Erica Fattore, President & Chief Executive Officer of PesoRama. \"Our continued success demonstrates the effectiveness of our business model, strong market demand and the overall opportunity that the Mexican market presents. I am incredibly proud of everything our team has been able to achieve and will build on this growing momentum as we strategically expand throughout Mexico. Congratulations and thank you to the whole PesoRama team, our loyal customers and our shareholders who got us here.\" \"After launching our operation in 2019, we are thrilled to celebrate the launch of our 20th store,\" said Rahim Bhaloo, Founder & Executive Chairman of PesoRama. \"Our simple, growth-oriented, business model addresses the gap between local bodegas and big box retailers, which has proven successful as we continue towards our goal of opening 500 stores over the next 5 years. As the only true dollar store in Mexico, we have cracked the code to finding success and growing our business.\"JOi Canadian Stores offers an unmatched value proposition in the Mexican market. Discounted general merchandise and everyday high-quality staples at affordable prices cater to a wide array of client segments. By strategically targeting high-traffic, easily accessible locations close to established major retailers with a complementing client mix, the Company is able to attract customers who desire convenience, and consistency.\"We are proud to have PesoRama's store as a new retail presence in our city and shopping centre,\" said Angeles Villareal, Marketing Manager of Pabellon Cuemanco. \"PesoRama's diverse value offerings are well suited to our community and we welcome the employment opportunities and foot traffic the store will...