| Further
expansion possible in future says VP
By Raymond
Kongwa,Guardian Staff Reporter raymond@nasguard.com
When Robin Hood
Enterprises opened its Soldier Road store five years
ago, it was testing a retailing model seldom seen in
The Bahamas.
Instead of applying
the typical principles of local retailing, and passing
on high import, customs and wholesale brokerage fees
to consumers, the newcomer in electronics and
appliance sales set out to cut cost through its
connections in the international wholesale markets,
then pass these savings on.
The man behind this
ambitious scheme was Robin Hood Vice President Sandy
Schaefer. Known to many Bahamians as Mr Robin Hood, Mr
Schaefer, a native of New York, has been in the retail
industry since the tender age of 13. His intimate
knowledge of the major players on the wholesale scene
and the ins and outs of retailing, allowed Robin Hood
to offer electronics, appliances and more at rock
bottom prices.
Bahamians used to
paying an additional 50 to more than 100 per cent on
top of U.S. tag prices for their refrigerators, TV
sets and stoves, etc. on the local market, were now
able to get these items for record savings. As word of
the savings spread, more customers embraced the
concept, and in a short time Robin Hood became a
household name, and its products the choice of
Bahamians from Lyford Cay to Elizabeth Estates.
Though local
electronics and appliance consumers were benefiting
from the huge savings and protected by the first of
its kind one-year warranty offered on all purchases,
there were naysayers.
Claims that Robin
Hood was too good to be true made the rounds, and the
voices of those heralding the savings were now up
against those claiming that the store's merchandise
comprised of refurbished products and not new ones.
Questioned about
claims of refurbished merchandise in a recent
interview with The Guardian, Mr Schaefer said, "A
lot of our detractors will say that its all
refurbished, and the reality is that, when we first
started out on Soldier Road, we did sell some
refurbished products.
It accounted for
maybe 35 to 40 per cent of our skews. But the reality
also was that we were giving a one-year warranty which
was unprecedented on the island." According to Mr
Schaefer, refurbished products now account for only
about five per cent of merchandise. He said that when
a customer walks into the store, major appliances, air
conditioning systems, and TV sets "are all brand
new."
Mr Schaefer told
The Guardian that his access to diverse wholesale
markets would continue to allow him to sell 10,000 TV
units a year, while allowing him to add new products
like the line of central air conditioning units
recently introduced.
Robin Hood not only
sells the central air conditioning units but offers
installation and repair services. The store's vice
president informed The Guardian that the new Bimini
Bay Resort featured 200 rooms outfitted with central
air conditioning from his store.
However, an excited
Mr Schaefer beamed with pride when he announced Robin
Hood's newest venture, and the reason for the store's
expansion. On Thursday, Robin Hood holds the grand
opening of a new furniture showroom.
The Guardian was
given a preview look at some of the merchandise to be
featured. An impressive collection of furniture for
all areas of the home and office will be unveiled at
Thursday's opening. Utilising the same strategy of
buying directly from the manufacturers and in bulk has
been used, says Mr Schaefer. "We have gone into
Brazil to the furniture factories and worked out the
best deals we possibly can," he said.
Mr Schaefer said,
as he moved forward in his business, he fully intended
to continue embracing the ideal of Wal Mart founder
Sam Walton, which is to "buy low and pass the
savings on." He added that the many areas in
which Bahamians continued to be exploited by merchants
could in the future cause Robin Hood to further expand
its line of products.
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