Solomon’s Mines will today reveal that it is creating a new Bahamian retail conglomerate by merging the Mademoiselle, Faconnable and, Royal Palm Trading Company stores operated by The Solomon Group of Companies into its existing retail network through a merger agreement that is to result in “increased sales” for all formats.
The merger, which is expected to be completed by the end of September, adds a total of eight stores to Solomon’s Mines retail network and will create a “stronger” company through increasing the merchandise offering all outlets will be able to display to the consumer.
Norman Solomon, head of the Solomon Group of Companies, told The Tribune last night that the merger would enable Solomon’s Mines to introduce exclusive clothing lines carried by his store into its own outlets, while Mademoiselle, Faconnable and Royal Palm Trading Company stores would be able to carry jeweler brands previously only available through Solomon’s Mines.
Describing the merger as “making good business sense” Mr. Solomon said the three retail formats being transferred to Solomon’s Mines operational control were a “very good fit” for its business.
