CHANG...the addition of these products will certainly augur well for revenue growth as they are usually sold at higher price points
New Orá segment to boost sales for Fontana
PHARMACEUTICAL retailer Fontana Limited is expecting to push up revenues with the roll-out of its new luxury beauty and self-care Orá by Fontana segment.
Soon to be launched at its Montego-Bay and Waterloo locations, the new segment will stock an elite line of skincare, make-up and perfume brands.
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Orá, which represents Fontana’s strategic expansion into the premium beauty segment, the company’s management said aligns with its broader vision that seeks to enhance the retail experience while meeting a growing customer demand for luxury beauty products. The introduction of the new product line is expected to redefine the beauty retail landscape in Jamaica.
Considered an investment in the future of beauty retail, the line aims to strengthen Fontana’s market position, introducing new, high-value categories as it enhances overall brand equity.
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“Having already established ourselves as a leader in the beauty industry, this line comes as a natural extension, moving into more luxurious brands that customers will have access to there. We’ve seen a lot of success with much of what we’ve been doing recently as we added some new perfume lines and the customers still have been asking for more, so we’re just trying to meet the demand,” CEO Anne Chang told the Jamaica Observer of the rationale behind Orá’s onboarding.
“We recognise the evolving preferences of our customers and the increasing demand for globally renowned beauty brands. Orá allows us to create a more immersive and elevated shopping experience, reinforcing Fontana’s commitment to innovation and excellence in retail,” she also noted in a company release.
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Among the international beauty brands to be sold in the curated portfolio of products are Hermès, Ralph Lauren, Armani, Lancôme, Prada, Viktor & Rolf, and several others. Some of these brands making their debut in Jamaica through Orá, Chang said, will offer beauty enthusiasts access to a wider range of premium products not usually available locally.
“The addition of these products will certainly augur well for revenue growth as they are usually sold at higher price points. Right now a Jimmy Choo perfume in our regular section costs about $13,000 but some of these we’ll be stocking for Orá will be priced from $20000 and upwards,” Chang further said to Sunday Finance.
“We know that as we get to higher price points, products in this segment are not expected to carry mass appeal, which is why we decided to launch first in our two larger and busiest locations as we seek to sort of test the market,” she added.
The roll-out of Orás due to come first for the two city locations precedes a longer-term plan to launch the segment in other stores across the Fontana chain, based on the rate of take-up. The segment will officially go live at the locations in April.
“The one at Waterloo will be housed in-store while that in Fairview will be adjacent to Fontana Fairview in Montego Bay. Both are to form part of Fontana’s larger operation and not to be seen as stand-alone businesses,” Chang said.
On the heels of its recent acquisition of the Monarch pharmacies, Fontana, which now operates approximately seven stores across six parishes, is now busy finalising plans to convert the Monarch outlets into Fontanas.
“We’re currently taking over the four Monarchs as we add these two new segments, which makes it technically about six projects that we have to be focused on right now so we have our hands full. Reconfiguring the Monarchs will take time — as we can’t convert all the stores immediately — so that’s what we’ll really be focused on this year as well as the two Orás that we’re bringing on stream,” the CEO said.
Fontana’s revenues climbing to $4.8 billion up to the end of the six-month December 31 period saw approximately $2.7 billion earned over the three-month period, driven by improved performance across all locations coupled with increases in all key metrics, based on sales by category, scripts, average scripts, and number of transactions. Net profit earned for the six months was $402.5 million and $326.6 million for the quarter. These follow revenues of $8.1 billion in 2024 and profit of $590 million.
