Swiss investment ramps Food Stores

For two years, the stores have been serving up Swiss luxury jewelery with a ration of food, and apparently found a winning combination.

Owners of chain jewelry, Rolex replica watches exclusively distributed in Jamaica recently expanded the area of ​​food service complex in the central business district to open a cafe called F & B Downtown.

Swiss Ueli Bangerter Stores Managing Director and its partners, the company invested U.S. $ 75,000 (About NZ $ 7 million) in the broader food service.

The mixed-use site is one of a handful of spin-offs that make investments in an attempt to capitalize on the government's policy to revitalize downtown Kingston.

The center offers high-income customers, including lawyers, bankers and telecommunications engineers, but few luxury restaurants.

Bangerter told Sunday Business that the company intends to fill this gap in the market, offering a bar, restaurant, conference and shopping. The restaurant specializes in coffee, pasta and wine.

Diversification

"We owned the building had room and saw the need for the center of good food," he said.

Going diversified operations 54 years of age Shops Swiss modernist chic restaurant seating 80.

"We now have a jewelry store in a restaurant," said Bangerter.

The store reopened in July after two months of renovation, marked by high ceilings, banks and banks narrow tables linked against orange wall. The F & B investment will be used to renovate new, new kitchen, bathrooms, facilities, bar and ordering said.

Bangerter said that jewelry is family owned, but the restaurant is a collaboration between himself, President Daniel Eugster Shops Swiss businessman Vinay Walia and security.

"We started two years ago with a table and raised," he said. "But we're closed for two months to renovate and reopen the business."

Bangerter and Eugster began his foray into the food as partners in 109 F & B Limited, a company started in 2009.

Jewelry customers are naturally rarer than 60-80 people daily. And food sales are understandably more stable.

"You can not eat jewels," quipped Bangerter.

Diners can also browse jewelry stores as Swiss Rolex, Omega replica watches, Tudor watches and Swiss army on one side of the store.

Bangerter said Digicel's main telecommunications provider plan to move their headquarters in central influenced investment.

"We have always believed in the center and Digicel made us believe that we are not alone and that there is a better future. Digicel But it could not have waited a year," he said.

Companies located in downtown Kingston under the Urban Renewal (Tax Relief) Act receive tax benefits for capital improvements, such as building renovations. This relief is 33.33 percent of capital expenditure approved.

The Government of Jamaica in an update of a long week fiscal Past U.S. Securities and Exchange also promotes relocation pending Digicel as a shot in the arm for trade.

Bring the center of life

"One of the direct consequences will be the sum of approximately 1,000 professionals and foreigners working downtown Kingston every day. This will result in increased demand for support services, such as banking, restaurants and other retail services. Digicel has continued to invest in the commercial district of the city of Kingston and the UDC has been working in collaboration with them, "said the GOJ update.

Bangerter said the ROI of F & B Center to recover in the long term.

"We spent $ 75,000 and we are not seeing a return on investment in the short term. Dollar Stores We are here for the long term. Investment is designed to allow us to stay in the long term," he said.

Swiss Rolex Stores only retailer in Jamaica, was founded by Rudolf WSckerlin Swiss Life in Jamaica. The store remains under control even Eugster Swiss Ueli Bangerter, director Peter Bangerter, executive assistant and Katie Iver.

Swiss replica watches Shops began operations in downtown Kingston, in 1958. It also has stores in the mall Plaza, Kingston, Ocho Rios and Montego Bay.