Iberia, the "multicentro" chain the in East DR, has lower prices than la Sirena, one average. I checked couple of days ago, at 8 pm there were about 30 cars in the huge Sirena parking lot. It ain't the same as when they opened back in December and lots of stuff was on sales (full parking lots, and store full of people shoulder to shoulder). One of the problems is they are on the outskirts of Higuey, and for 80% of population in Higuey is easier and faster to get to Iberia or Hiper Higueyano. (Iberia is partially on the outskirts as well, but faster to get into than La Sirena).
- Thread starter PICHARDO
- Start date
Grupo Ramos - Walmart
Iberia, the "multicentro" chain the in East DR, has lower prices than la Sirena, one average. I checked couple of days ago, at 8 pm there were about 30 cars in the huge Sirena parking lot. It ain't the same as when they opened back in December and lots of stuff was on sales (full parking lots, and store full of people shoulder to shoulder). One of the problems is they are on the outskirts of Higuey, and for 80% of population in Higuey is easier and faster to get to Iberia or Hiper Higueyano. (Iberia is partially on the outskirts as well, but faster to get into than La Sirena).
@DERFISH - that article was published back in July 2007, so that's exactly 5 years ago.Do you see Wallmart brand anywhere ion the DR 5 years later. I don't. Just discard the info. Tianguis Si-Wal-Mart-No: Wal-Mart Se Expande a la Republica Dominicana
I don't think that Walmart bought them in 2007. Pichardo seems to have quite a valid intel on stuff involving business matters in the DR. If he says Grupo Ramos/Sirena is not yet owned by Walmart, I believe him, regardless of what some speculation published in 2007 tries to imply.
There's an agreement, but NO sales or takeover as of this date!
Not a penny has changed hands, no contracts signed or even a new corporation listed...
La Sirena/Grupo Ramos and Walmart have zilch to do with one another! Nothing!
Any talk or say that Walmart already bought Grupo Ramos is BS and LIES...
As the trend, the DR uses the same corporate name of the biz from the US that set foot here. Walmart will NOT become WalDom... It will be Walmart 100% if the agreement holds until a contract is signed by both parts.
La Sirena is a brand that will then be used for exporting the big retailer to Haiti and the Caribbean under the new corporation in shares (or so I was told).
All La Sirena and Pola will become Walmart and Super-Walmarts. The other smaller ones will become express stores and Markets...
To be said, Grupo Ramos is expanding to the whole country with presence in all major cities, town and provinces.
Some people don't know this, but quite a few stuff that's sold in Walmart USA is manufactured in the DR's FTZ... Now link local manufacturing, Grupo Ramos, Walmart and you put 2 and 2 together...
Not a penny has changed hands, no contracts signed or even a new corporation listed...
La Sirena/Grupo Ramos and Walmart have zilch to do with one another! Nothing!
Any talk or say that Walmart already bought Grupo Ramos is BS and LIES...
As the trend, the DR uses the same corporate name of the biz from the US that set foot here. Walmart will NOT become WalDom... It will be Walmart 100% if the agreement holds until a contract is signed by both parts.
La Sirena is a brand that will then be used for exporting the big retailer to Haiti and the Caribbean under the new corporation in shares (or so I was told).
All La Sirena and Pola will become Walmart and Super-Walmarts. The other smaller ones will become express stores and Markets...
To be said, Grupo Ramos is expanding to the whole country with presence in all major cities, town and provinces.
Some people don't know this, but quite a few stuff that's sold in Walmart USA is manufactured in the DR's FTZ... Now link local manufacturing, Grupo Ramos, Walmart and you put 2 and 2 together...
To gain a foothold in a country, Walmart has been acquiring small chains of stores throughout Latin America. So this strategy involving Grupo Ramos, if true, defintely fits their modus operandi.
If not, its only a matter of time before Walmart enters the DR, by buying someone else....and it will probably be sooner rather than later (although Grupo Ramos makes the most sense).
Walmart signaled its intentions in Latin America in a big way by establishing in 2010 a regional office in Florida just to handle Latin America. Today, Walmart is the largest employer in Latin America, and with a financially slowing Europe as well as growth retrenchment in China, Walmart has been stepping up its activities in this region.
Aside from all the problems involving merger and acquistion, two key issues for Walmart entering the DR will be transport of their goods and banking. Walmart will not tolerate the control that the transport sector currently enjoys in the DR. Whether an accord between the parties can be reached beforehand remains unknown, but rest assured it is on Walmart's punch list, right up there with banking.
Walmart has been trying for years to get into banking here in the US, and has been summarily denied access by the regulators. It has succeeded in getting banking licenses in many Latin American countries (Mexico being the largest coup de tat for them) and I suspect that they will want the same in the DR.
So the questions are, does Grupo Ramos have contractual banking relationships inside their stores with other banks, for how long, and can they be bought out? I suspect the banking lobby (if there is such a thing in the DR) will probably work to at least block Walmart from obtaining banking licenses....and then does Walmart enter the country without them?
Lots and lots of questions/issues/logistics to be worked through before this becomes reality.....not to mention the apparent breach of confidentiality agreement (that is standard and ongoing in any real M&A) by an "insider" at Grupo Ramos.
Respectfully,
Playacaribe2
If not, its only a matter of time before Walmart enters the DR, by buying someone else....and it will probably be sooner rather than later (although Grupo Ramos makes the most sense).
Walmart signaled its intentions in Latin America in a big way by establishing in 2010 a regional office in Florida just to handle Latin America. Today, Walmart is the largest employer in Latin America, and with a financially slowing Europe as well as growth retrenchment in China, Walmart has been stepping up its activities in this region.
Aside from all the problems involving merger and acquistion, two key issues for Walmart entering the DR will be transport of their goods and banking. Walmart will not tolerate the control that the transport sector currently enjoys in the DR. Whether an accord between the parties can be reached beforehand remains unknown, but rest assured it is on Walmart's punch list, right up there with banking.
Walmart has been trying for years to get into banking here in the US, and has been summarily denied access by the regulators. It has succeeded in getting banking licenses in many Latin American countries (Mexico being the largest coup de tat for them) and I suspect that they will want the same in the DR.
So the questions are, does Grupo Ramos have contractual banking relationships inside their stores with other banks, for how long, and can they be bought out? I suspect the banking lobby (if there is such a thing in the DR) will probably work to at least block Walmart from obtaining banking licenses....and then does Walmart enter the country without them?
Lots and lots of questions/issues/logistics to be worked through before this becomes reality.....not to mention the apparent breach of confidentiality agreement (that is standard and ongoing in any real M&A) by an "insider" at Grupo Ramos.
Respectfully,
Playacaribe2
What products Made in The DR are sold at WalMart?
What products exactly are made in the DR and sold at WalMart?
5+ years ago we used to knit/dye/sew/print a lot of printed for them... somewhere in the neighborhood of 10,000 dozen a week.
Mostly textile products, clothing, underwear, etc. Walmart used to be a big buyer of Hanesbrands products, which had/has a factory in the FTZ's.
Not sure I would call it "quite a few stuff" though.
Respectfully,
Playacaribe2
@playacaribe - Banco Leon and Popular are just two that come to mind as bankings etups in la Sirena. But I think BHD and Banreservs as well. It will be hard to get 4 banks out of their multicentros so they can do a monopoly banking operation there. Getting the 4 banks out, less reasons for people to go to la Sirena. The logic behind having "side stores" like banks etc in multicentros is not to get money from rent, but to attract people who might otherwise go elsewhere. For example, people who need to go to buy groceries and go to a bank might go to a smaller store because their bank is two blocks away and can do two things in one trip. So the idea to have "side stores" is for people to go to la Sirena instead and do both things in one trip there. If they remove the banks form their stores, they would be cutting their own throats.
Thanks RH for the update.
I would bet that the banks are lobbying (behind the scenes) harder than anyone to limit Walmarts availability to open up Banco Walmart...like they have in Mexico, etc. And I am quite sure that Western Union, Vigo and some of the other money transfer houses and Cambio's are also concerned.
Not only would Walmart upend banking in the DR by their presence....fees would probably go down...and banks rely on/need fees more than ever to survive these days. I expect a hard push by the Banking community to limit Walmart to just retailing....if they ever come into the country.
Respectfully,
Playacaribe2
Good point on the chicken- I live next door to a Pola but specifically drive and shop at Nacional because the idiots dont know how set a timer to cook a chicken without drying it out. Makes you wonder what goes through the minds of some of these Managers-do they ever test the product to see if its edible. Not to difficult to correct this one.Actually the Managers are the usually the ones that are engaging in small talk with cashiers while people wait in long lines. Somethings just cannot be taught in school!
Enough to see Burger King in Pop, Hooters in Santiago two name two. As we both know nothing in Sosua. Good enough answer for ya?
Walmart has a 5000 btu window air conditioner on sale for $99 in the USA!
Do you actually think those prices will come to theDR?
Price Mart is here,and their prices "SUCK"!
Their only advantage is that they have some quality American products not available in other stores in the DR,but their prices on those items,"SUCK" more!
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Do you actually think those prices will come to theDR?
Price Mart is here,and their prices "SUCK"!
Their only advantage is that they have some quality American products not available in other stores in the DR,but their prices on those items,"SUCK" more!
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La Sirena was born during late 80s when the orinal stores Galerias Domino / Roman Ramos (SD) and Luis Ramos (Santiago) se fundieron dando origen a lo que hoy conocemos como La Sirena SA.
JJ
Enough to understand that you do not wish to see US based businesses in the DR.
Any word on Walmart actually acquiring La Sirena from Grupo Ramos?
I cant seem to find an actual article in a Dominican newspaper that states this, anyone have any news?
I cant seem to find an actual article in a Dominican newspaper that states this, anyone have any news?