ARGENTINA. Travel retail conglomerate London Supply is to double the retail space of its Duty Free Puerto Iguazú complex in the Tres Fronteras region where Brazil and Paraguay meet Argentina.
Duty Free Puerto Iguazú currently occupies some 3,400sq m of retail space.
“We are starting with the works to enlarge the Puerto Iguazú store,” said London Supply Commercial Director Francisco ‘Paco’ Heredia.
“The plan is to double the floor space there, as well as building underground parking around the store.”
Work is underway on the excavation for the parking area.
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Heredia reported that London Supply’s travel retail revenues were continuing to grow at approximately +50% year-on-year, setting a solid foundation for continued expansion.
Business has recovered strongly across London Supply’s Tierra del Fuego following the disruption caused by the eruption of the Puyehue-Cordon Caulle volcano. A good ski season has ensured bumper tourist numbers in Bariloche.
Further south, London Supply is in the midst of refurbishing its downtown stores in Ushuaia and Rio Grande, and is on track for completion by late 2011.
Meanwhile the Puerto Iguazú school developed by the company’s charitable arm, the London Supply Group Foundation, has received a prestigious ARQ architectural prize at a ceremony on 6 September in the city of Corrientes.
The prize recognises the Foundation’s Doña Mercedes García de Taratuty Building (pictured below) at School No. 875, in the poor in Barrio 1º de Mayo quarter of Iguazú, as the best work constructed in the past five years in the northeastern provinces of Formosa, Misiones, Chaco, Corrientes and Entre Ríos. The school is now a finalist in the National Grand Prize for Architecture.
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Note: A full report on the London Supply Group Foundation’s work at School No. 875 appeared in The Moodie Report’s Corporate Social Responsibility in Travel Retail supplement in October 2010.
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