THE PUERTO RICAN BUSINESS CONTINUES IT’S EXPANSION
By: Estudio VeintOnce
Published: May 31, 2018, Noticel
When the founders of Gustazos took on the task of creating a unique and varied experience for the demanding Puerto Rican consumer seven years ago, they did not expect their business model to expand and thrive beyond the island.
Several years and millions of dollars in savings for consumers later, the company continues its accelerated international expansion with the arrival of a new partner. Gustazos recently reached an agreement with Jamaican media group RJRGleaner, which acquired a significant stake in Gustazos Jamaica to strengthen the brand in that market.
“We have always been enthusiastic about the synergy between traditional and digital media,” said Carlos Villares, CEO of Gustazos International. “Our initial talks with RJRGleaner showed that its longstanding leadership in traditional media combined with a successful expansion in digital strategy proved it was the right media partner for Gustazos in Jamaica.” Through this partnership, Gustazos will now employ traditional media resources.
From 2016 to 2017, Gustazos grew 70 percent in Jamaica.
From 2016 to 2017, Gustazos grew 70 percent in Jamaica. Under the direction of Luke Todesco, CEO of parent company Social Media Group, Gustazos has established a structure that solidifies its brand in that market.
For the Jamaican media conglomerate, the partnership with Gustazos advances its strategy of strengthening the digital presence of its traditional media brands using Gustazos’ experience and strategies. Gustazos is capitalizing on its model and taking advantage of export tax incentives by establishing presence in Canary Islands, Jamaica, Panama and the Dominican Republic.
Although these operations have a local presence, they are supported by Puerto Rican resources. The transactions are processed on the island, thus generating income, creating jobs and stimulating the Puerto Rico economy.
“Given its exporting aspect, local employment for services rendered internationally, and its massive local impact, we regard Gustazos as a platform for economic development in Puerto Rico,” said Gustavo Villares, CEO of Gustazos HQ in Puerto Rico. “We’re very proud to be able to say this about our company, since it’s not something we thought we would achieve at the beginning.”
“we regard Gustazos as a platform for economic development in Puerto Rico”
With Carlos Villares managing the markets outside Puerto Rico through Gustazos International LLC, and Gustavo Villares managing the team at Gustazos HQ, the group acts as an exporter of services within the company, exporting its experience in Puerto Rico and rendering services through its staff on the island.
“That way, each international operation has all the necessary services for each expansion market to operate as Gustazos does in Puerto Rico,” said Gustavo Villares.
Gustazos’ monumental presence in Puerto Rico comes at a time when e-commerce is rapidly growing on the island, according to a recent Digital & Mobile Behavioral Study by the Sales & Marketing Executives Association of Puerto Rico. In fact, Gustazos has already surpassed 2 million transactions since the platform was launched on the island.