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Rimith launches new chocolate Premium

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Besides helping to relieve pain and get in a good mood, chocolate also seems to be a good deal. At least is the Riba Smith Group, which after the success of its premium chocolates crafted factory has decided to venture in the industrial production of this popular delicacy, which now sells through its brand Rimith.

This new adventure of the group already began more than a year, when he established a small factory for the manufacture of a wide variety of handmade chocolates which are sold exclusively in supermarkets Riba Smith and sold by weight ($ 0.035 per gram) or unit (between $ 0.60 and $ 1.50 depending on the type of product).

Then it was essentially making sweets and snacks prepared as white chocolate, milk chocolate, black chocolate, but the good reception of these products among consumers Riba Smith led the group to step forward to end of 2009 and expand the business by creating a line of industrial chocolate. According

Jhanabel Riba, responsible for the production of chocolates Rimith, the idea behind this expansion is not leaving the craft production but to give consumers a new option, since it is a premium product developed with high quality raw materials at an affordable price when compared to similar products found on the market (see box: Main Ingredients).

The Rimith chocolates prices between $ 0.70 and $ 2.60, depending on their composition and size. At these prices Rimith chocolates are obviously not designed to compete with inexpensive chocolates, such as Argentine or Colombian Colombina Arcor, but rather with strong international brands such as Ferrero Rocher Mexican or Swiss Lindt.
"This is a high quality product, like everything we do in our company, and we believe we can compete in the premium chocolate market" Mrs. Riba added.

Carlos Ramon Smith, one of the owners of Grupo Riba Smith, said that at present there are no plans to market the new line of chocolates Rimith in other supermarket chains, because by the time the factory is designed to meet the demand for the four supermarket chain comprising Riba Smith. But do not rule out the possibility that this can happen in the future. Capital

seek the views of Nestle Panama, SA for the new competitor in the chocolate market, but Monica Beens, Department of Communications & Wellness of the company, said he did not have "any comment "but acknowledged that he had taken into account.

Pedro Acosta, president of the National Union of Consumers and Users of the Republic of Panama (Uncurepa), believes that the arrival of a new product to market is always positive because it promotes competition and enables consumers Panamanians have a wider range of options in terms of quality.

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Super 99 and Super Xtra expand in Arraiján

Population growth has been Arraiján in recent years and the development of new housing projects that promise to further increase the number of consumers in that sector of the metropolitan region in the coming years, have led to retail chains Xtra Super 99 and Super build new branches in that district.

Arraiján Currently there are five supermarkets, three of them are national chains like The Machetazo, King and Super Xtra Supermarket, while the other two locations are part of a small chain called Tajanaso, whose presence is limited to Vacamonte and Vista Alegre.

However, competition in the retail market will increase significantly Arraiján later this year if projections are met Super 99 chain, which expects to open two new branches in the district in the western sector of the province of Panama .

One of these branches is being built in the area Vacamonte, while the other will be located in New Arraiján, specifically at the entrance to the Iron Gates developments and San Bernardino.

According to Mario Martinelli, chairman of the board of supermarket chain Super 99, these new branches respond to the need for greater presence in a community that is growing rapidly and where demand for food is in constant increase. Martinelli

declined to give details on the amount of the investment by Super 99 to expand its presence in Arraiján, however, does advanced his belief that as soon as new branches of the chain come into operation, the cost of basic food basket in this sector of the metropolitan area will be reduced for consumers, as a result of increased competition among distributors of food.

"The only thing that lowers the price of basic goods is competition," he said Martinelli. Reaction of competitors

But the chain Super 99 is the only one that hopes to expand its presence in Arraiján in the coming months. One source of the Super Xtra supermarket chain, said that the company has begun construction of a new branch in that district, which will be located on the road "old" versus Vacamonte input.

added that besides the construction of this new branch, the company has decided to extend the period to 24 hours public service Arraiján branch head, to meet the needs of its customers and the constant growth demand in that area, however, declined to provide other details because both projects are handled in the Super Xtra Arraiján.

Meanwhile, the Panel Rey, SA said they definitely have more supermarkets in the area of \u200b\u200bArraiján benefit the consumer, as it will more options to choose where to shop, but warned that with 12 years in Vista Alegre are sure that their customers continue to prefer.

However, King notes that the Group is also focused on growth, and the proof is that right now are building four new supermarkets. One of them, Rey Supermarket Centennial Park, will open its doors in about six months on the road to the Centennial Bridge. This will also be an option for customers from the west who use this route to go home.

this new facility also will join the new supermarket Rey Chitre the first to have the chain on the Azuero region, the King of Versailles Supermarket, which will be the first supermarket chain in Juan Diaz, and Rey supermarket December 24, which will provide service to another area that is growing.

For his part, Carlos Ramon Smith, one of the owners of supermarkets Riba Smith, said the company, which currently has four branches in Panama City, has no immediate plans to expand its operations to the districts Arraiján or La Chorrera.
however, did not rule out the possibility that in the future to establish a branch in the western sector of the province of Panama.
"Our Priority relocate our factory Rimith products.

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GROUP KING: A TEST OF ALL

fires, looting, economic and political crisis were not enough obstacles to the King Group, which in its nearly 100 years of existence has always overcome adversity and has succeeded in becoming a business organizations largest and most important of Panama.

The emporium of fresh produce, groceries and dry goods, which began as a grocery store in Columbus, now has about 4,300 employees and sales of about $ 400 million a year. On 20 December next year will mark the centenary of this tour a path not without thorns and weeds, but in which the entrepreneurial desire of three generations of Greek immigrants has been a force unstoppable.

With 50-year-old father of three children, Nicholas is the president Pschoyos Tagarópulos Rey Group and represents the third generation of this entrepreneurial effort that started his grandfather, Don Antonio Tagarópulos.

With his style of dress more casual than formal, which leads to its employees to ask "to go where the boss" when it comes to suits and ties, Psychoyos is passionate when talking about the effort to ensure the growth of a emporium named "King", as nicknamed Antonio for their entrepreneurial spirit and drive. LESSONS LEARNED



business experience Psychoyos Nicholas began at age nine, when he made his first works in the company, as they have done their children.

experience early on so accustomed to the work "shoulder to shoulder" with others in the team and showed how the basic levels of the chain from the customer at the counter.

Before going to study in the U.S., had already gone through several departments Upon his return to Panama in 1982, after complying with graduate studies at Harvard Business School, the Massachusetts Institute of Technology (MIT), INCAE and business studies at Southern Methodist University, Nicholas Psychoyos joined the organization in the marketing area and in 1986 he became general manager.

In 1989, following the looting that hit the supermarkets and other businesses during the U.S. invasion of Panama on Dec. 20, it was he who had to back up the chain and make it go.

business leadership, which showed by his grandfather and father were Nicholas Psychoyos keys to occupy the presidency of the Merchants Association and Grocery Distributors of Panama (Acovipa) and became a member of the board of the National Council Company (Conep).

"In these 100 years we have been manufacturers, merchants, farmers, distributors, on a road which has learned everything, fires, looting and theft that have affected business, the triumphs , but mostly failures, "says Group President King.

With his drive and determination, the organization has not stopped growing and is now listed on the Stock Exchange of Panama, which has allowed it to have about 300 shareholders, 150 of which are part of their group by contributors. BALANCE



Despite the financial crisis, the conglomerate figures show results very positive.

King Group last year reported growth between 13% and 15% in their business, compared to 18% in 2008. "This is positive in the midst of rising fuel prices and other uncertainties and the rising prices of commodities such as corn, and sorghum, rice," says Tagaropulos.

Another aspect to highlight, according to the executive, was that last year the Group completed the integration of Romero, which was added about 25% of sales to Grupo Rey. FAIR POLITICAL



When talking about current government policies, the cluster leader spares no words to express positive considering the last adjustment to the minimum wage set by the national government. In his opinion, "there has been some degree of social peace with the adjustment," because it will allow our people to advance to different levels of workers in other countries. "

In his opinion, one of the issues that the country should pay particular attention to illegal immigration is because Panama has become an attractive place to come and work with the problems suffered by other countries, and improve the educational level of the Panamanians.

Although not completely rule out the possibility of investing abroad, the Group's strategy in 2010 will be king continue growing in Panama, where it is expected this year to open four more supermarkets.

FROM THE "MENTAL SPA"

The so-called "mental spa" as it tells a modern room in the offices of Street Group 50 of the capital, designed to relax and help the ideas flow business, carrying a giant screen and a light lunch buffet at the entrance, the president of Grupo Rey that his grandfather Don Antonio, a native of the city of Chalkis, Greece and then 15, and two of his cousins, 16 and 17 years, saved to travel to Panama in Martinique, a cargo ship that was also capable of carrying passengers. An uncle, whose experience encouraged them to set sail, received at the port of Colon. His first job was "water carriers", as it was to those who carried water to the dock workers. In the book "My best legacy of Don Antonio Tagarópulos Autobiography," published by journalist Gil Blas Tejeira, is that a bruised foot with a wheelbarrow full of cement forced the girl to go to work in a bakery, while cousins \u200b\u200bwho were with him in the venture went to the United States, discouraged by the difficult weather and hard work. In the bakery, Tagarópulos realized he might have to bring them the extra income after bread and other groceries to families in Columbus. His entrepreneurial spirit encouraged him to open a grocery store, and took his irrepressible energy to venture into other businesses, such as installation in 1917 of a pasteurization plant to supply Columbus and the former Canal Zone. Shortly thereafter

acquired a fleet of ships to carry goods to retailers of coastal towns, and carry passengers and mail.

In 1926, a Columbus fire destroyed part of one of its business. However, adversity does not daunted his spirit and that same year bought shares in the manufacturer of the Orange Crush drinks.

In 1939, another fire in Columbus affected the business again, but stayed the course, he recovered and continued to grow. In 1958 he founded the first supermarket King, Via Spain, and since then the chain has not stopped growing. STRUCTURE



King Group consists of:

supermarket chains King, Romero, and Mr. Price. Meat

Rey, meat processing company.

Agroindustrial Rey, vegetable processing company, which advises and provides services to farmers who give support to the chain. Agricultural

Rey, purchasing and processing cattle. Confectionery

Rey, which processes and distributes distributes bakery chain.

two distribution centers located in Panama and David and 37 supermarkets.

Source: Luis Alberto Sierra. La Estrella de Panama.

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GROUP KING UNIFIES MINIMUM WAGE NATIONAL

King Group said yesterday it decided to unify the minimum wage in the 47 facilities it has at the national level to pay 1.81 dollar per hour to all employees who are in this salary range. The business group said this "positive" impact those employees located in regions such as Puerto Armuelles, Changuinola, Coronado and Volcano, among others, to receive the salary increase applied to another region and ensuring an increase greater than what was established recently by law. La Prensa, January 16, 2010.

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SUPERMARKETS ONLINE, HABIT OF FEW

Migdalia Casorla
Capital

service virtual supermarket or online is not a new concept in Panama. And Riba Smith supermarket, Super 99 and Smart Price and offer this assistance to their customers, leading to their homes and offices all sorts of products from their establishments to pay a surcharge of $ 5 to $ 7. Other similar businesses like Kosher Super SA, are considering doing so well.

is a benefit to customers highly specialized, value-added. Who uses it achieves a significant saving of time, not having to make the long lines and through each of the corridors to purchase items you are looking for, and also saves the costs of relocation, which are compounded daily vehicular dams are registered in Panama. Moreover, it is very suitable for physically disabled or elderly.

Oscar García, national director of Free Competition, believes that it is a good option for consumers by lifestyle find it difficult to go to the supermarket.

The official said that this type of service can lead to some discrepancies, because the products do not directly choose the possibility of claims increases, especially with meat and vegetables, which may not be in the best conditions when the release is done. These problems do not occur with packaged and canned products.
Garcia said that so far has not received complaints from consumers who use online shopping.

Some supermarkets do not offer this value added by the costs involved, including new technology and extra staff to fill orders and bring them to their final destination. In addition, many locals do not have extra space for distribution and outbound logistics.

On the other hand, this service is not as necessary or as demanded by the banking community as line. For all this we can conclude that "going to spend some time for this service is considered by all supermarket chains," the director of Free Competition.

Carlos Ramon Smith, vice president of Riba Smith, says the results of the 'super' virtual 'have been good if we consider the customer satisfaction and good service rendered. "

However, the merchant says business is not economically profitable, it is very expensive to offer, so you think that's one reason why many of its competitors have not entered it.
As for expansion plans, Smith said by the time his company has no immediate plans in that direction. "We hope the crisis passes, we are now in school." Capital

consulted Super 99 and Smart Price on their experiences with these services, but at press time had not received a response. Analyze the possibility


Mauricio Rodriguez, manager of Super Kosher SA, said that for now has not been considered to offer this service to their customers, because we still have a completely segmented target market and specific and because their customers prefer to shop in person at the supermarket.
However, Rodriguez did not rule out the possibility of developing this strategy within three to five years.

Meanwhile, Marta Alvarado, manager of corporate communications Rey Group, said that this service is not in their future plans, so they continue their growth and expansion plan, involving the opening of the supermarket recently Romero in City of David. King
Group plans to open three new stores in the next 18 months: King Chitre, the first in the region of Azuero, Rey Centennial Park, in the way of the Centennial Bridge, and King Plaza Versailles.