Hardware Retailing The Industry's Source for Insights and Information
Earlier this month, True Value Company announced Hardware Group as its newest member. Hardware Group boasts more than 23 stores in Puerto Rico and counting, meaning the partnership will expand True Value’s presence on the island.
Founded in 2011, Hardware Group is an association of 15 member-owners with stores throughout Puerto Rico. Retail locations vary in size from convenience formats to a larger “mega” layout. Many Hardware Group stores serve the convenience hardware customer and DIYer.
Hardware Group will open a combination of True Value-branded stores and remodels throughout 2017. The group will participate in True Value marketing and loyalty programs, as well offer gift cards and co-branded credit cards. In addition, True Value has developed advertising circulars solely for the Puerto Rican market. The first store–Soli Home Center True Value–opened Nov. 11 in Fajardo with a grand opening scheduled for Dec. 2.
“We are thrilled to become part of the True Value family as we focus on modernizing our stores and enhancing specific lines to further make Hardware Group’s product assortment more competitive,” says Laura Ortega, president of Hardware Group.
The partnership with Hardware Group is another example of the cooperative looking for more ways to grow internationally, says Gabriel Fuentes Perez, senior director of international at True Value Company.
“Our new relationship with Hardware Group marks an important step in strengthening True Value’s strategic position in Latin America and the Caribbean,” says Perez. “The growth of our international business is a key initiative as we focus on executing our long-term strategic plan.”
