Unicomer MD: TT long-term economic outlook good

Unicomer Caribbean managing director Errol Le Blanc has expressed confidence in the TT economy, saying its long-term outlook “will be good.”

The Unicomer group includes Courts and Lucky Dollar and Courts Optical.He was speaking to reporters during a networking session at the company’s local headquarters, at Courts Way, Freeport, yesterday.

Asked whether there were plans to open additional retail stores in TT, he said, “Yes, definitely. We are always looking for opportunities. We think that our optical chain could do with some more stores in some of the malls, but we plan to expand further, yes.”

“I won’t say at this time where, but we definitely have plans to expand.”

Asked whether this is indicative of the company’s confidence in the TT economy, he said, “We have confidence that, in the long term, the economy will be good.

“Obviously everyone is aware of the short-term challenges in the Trinidad economy and we are aware of that as well. We have been fighting very hard to explore various sources of revenue and this is where we came in with optical, cash loans etc. But we think that, long term, the economy will be good.”

He said the company’s local growth in 2019 had been “marginal” and stood somewhere between three and five per cent. “Basically we are working hard at our game. You will see we are very active in terms of our promotional activity and we are pushing hard. We are introducing new products, we are introducing new services, we are trying to better please our customers.

“We expect that, in the long term, the economy will do well and we will do well.”

On the recent influx of Venezuelan migrants into TT, he said while the company had not yet hired any, it would do so if they were deemed suitable.

“As you know, their situation has recently been regularised and we are prepared to hire them, yes, based on the regularisation of their status in Trinidad.”

Asked whether this was a definite yes, he said, “We would be considering them in line with other people who apply, because basically our principle is that we only hire for best fit.

“So if we have Venezuelans who are regularised and we have others who are applying for the same jobs, we will screen them, we do the necessaries, and if they are more suitable we will definitely hire them.”

On the availability of foreign exchange, an integral part of the company's business, he said it was “always a difficult issue.”

“We have had our challenges in trying to source foreign exchange to make our purchases, but for the most part, we have managed to get by.”

Asked whether the group bought directly from the Central Bank, he said, “Well we purchase from the commercial banks.”

Le Blanc said the group was preparing to roll out an app customers could use to apply for credit via their cellphones. The app, which is called EMMA, is an innovative product which is expected to be introduced before the peak Christmas season.

“It’s in the prototype stage at the moment, but we're hoping before the Christmas season starts we will be able to roll it out.”