Membership-shopping warehouses are scheduled to open in Aruba on March 22 and on the island of St. Thomas in The U.S. Virgin Islands on May 3.In addition to the Caribbean openings, PSMT Philippines Inc., PriceSmart's joint venture in the Philippines, has entered into a lease to open its second warehouse club in Manila this fall.
"The lease for the second warehouse is located in Pasig City, one of the most heavily trafficked areas in greater Metro Manila with approximately two million people living within 30 minutes of the site," says Brud Drachman, SVP of real estate and construction.
PriceSmart's first location in the Philippines is under construction and is slated to open in Fort Bonifacio area of Manila this June. PriceSmart now operates 17 membership-shopping warehouses in the Central American and the Caribbean region. The San Diego-based company also licenses five warehouses in China and one warehouse in Saipan, Micronesia.
The total number of PriceSmart membership accounts in the Central American and Caribbean region are more than 443,000 representing approximately 775,000 shoppers.
PriceSmart, headquartered in San Diego, is a volume-driven merchandise and services provider specializing in retail stores in Central America, the Caribbean and Asia.
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