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Financial News

Jan 2016 Financial News

Prestige Holdings Limited - Communication of Material Change

Jan 28, 2016

January 28, 2016 – Prestige Holdings Limited (PHL) has been appointed as the licensee of Starbucks Coffee Company (NASDAQ: SBUX) for the Trinidad and Tobago market and plans to open the first store this year. This marks a tremendous achievement for Prestige Holdings as Starbucks stores will join their brand portfolio with KFC, Pizza Hut, TGI Fridays and Subway restaurants. For Starbucks Coffee Company, the Trinidad and Tobago market will represent the company’s 16th market in the Latin America and Caribbean region.

“We are pleased to be working with Starbucks and look forward to leveraging our expertise and knowledge of the market to deliver the Starbucks Experience to customers in Trinidad and Tobago,” said Charles Pashley, Chief Executive Officer of Prestige Holdings Limited. “Like Starbucks, we are committed to creating moments of connection for our valued customers by delivering a fantastic retail experience, high-quality products and world class operations.”

Since launching the brand in Latin America, Starbucks has grown to over 940 stores across its existing 15 markets, 14 of which are operated by its trusted licensing partners. In the Caribbean, Starbucks licensees currently operate 33 stores across Aruba, The Bahamas, Curacao, and Puerto Rico, making Trinidad and Tobago its fifth market in the region.

“We are proud to bring the Starbucks Experience to Trinidad and Tobago, marking a key milestone in our continued efforts to expand operations across the Caribbean,” said Ricardo Rico, Starbucks Vice President for Latin America operations. “We look forward to opening our first store in the market and sharing our deep passion and knowledge of the best coffees from around the world.”

Since 1972, PHL has been at the center of Trinidad and Tobago’s business landscape providing customers with a one of a kind retail dining experience. PHL will be responsible for delivering the Starbucks iconic coffeehouse experience to customers and overseeing the brand’s growth in the market.

About Prestige Holdings Ltd.
Prestige Holdings Limited continues to enhance the restaurant experience in Trinidad and Tobago. Launching in 1972 in Trinidad and Tobago with KFC restaurants, our commitment to service excellence led to increasing our offering with Pizza Hut restaurants in 1994, TGI Fridays in 2001 and Subway restaurants in 2011. We value the individual experiences people share together in our restaurants and we continue our vision for the brands we share to be in the hearts and minds of our customers and team members. For more info, visit www.phl-tt.com

About Starbucks
Since 1971, Starbucks has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com.

For more information:
Charles Pashley, CEO
Prestige Holdings Limited (PHL)
+1 868 623 2646
Charles.pashley@phl-tt.com

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday January 28, 2016