Puerto Rico on target for Target in 2012

By: Frances Ryan / Caribbean Business

March 3, 2011

The latest on Target’s arrival to Puerto Rico is that the mass retailer first will begin its Canadian expansion, leaving its local arrival for 2012, CARIBBEAN BUSINESS learned. This means the first Target store for Puerto Rico will open sometime between mid-2013 and early 2014, right before the middle of the decade, as Target’s own chairman, president & CEO, Gregg Steinhafel, forecast.

“We are coming to Puerto Rico. It is at the core of our strategic-development plans,” confirmed a Target real-estate executive during an exclusive interview. The Target source also indicated the company looked at several developers to help with the expansion plans.

However, he declined to indicate which developer or developers they are in conversations with at this time, simply stating it is a well-established Puerto Rican company with vast experience in commercial, residential and institutional development. “They will likely partner with other local companies for Target’s overall development in Puerto Rico,” the Target source said.

The latest development on Target’s arrival comes on the heels of Steinhafel telling company managers that Target began exploring international- expansion possibilities by focusing first on Puerto Rico and Canada as ideal entry points. “Entry to Canada happened sooner simply because two deals already were fairly advanced and those will happen first; however, that isn’t to say that we [Target] won’t go to Puerto Rico but rather that it will be toward 2012,” the executive reiterated.

Meanwhile, Target’s arrival has put on alert local retailers, specifically Walmart, the island’s largest retailer, which has sped up its own expansion plans with the opening of additional Walmart and Sam’s Club stores on the island.

Efforts by the Minneapolis-based mass retailer to consider expansion to the Puerto Rico market go as far back as 15 years. Notwithstanding, the fast-growing fashion-driven mass retailer has been laser-focused on its U.S. mainland expansion during the past few years.

Local retail experts also point out that Target will have to deal with Puerto Rico’s own Target Rental Car, a local family-owned car-rental operation, which has operated successfully for decades using the same Target name and logo as the mass retailer. So far, there have been no formal conversations between Target and the local car-rental company to address that issue.

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11 Comments

  1. farmacia express
    Posted June 1, 2011 at 6:20 pm | Permalink

    we would like to know if Target Stores have plans to establishe a drug store inside their establishment. If so we would like to start conversations upon developing a concetion drug store. we have the expirience and the desire to work toghether with Target.

  2. Posted June 10, 2011 at 5:05 pm | Permalink

    This is great news. Lots of people in Puerto Rico are waiting to hit the stores as soon as the stores open here.

  3. Omar Edilby
    Posted July 10, 2011 at 3:06 pm | Permalink

    I know that Target is going to be a big hit in Puerto Rico. I lived in Miami and loved the store. Can’t wait for them to come here.

  4. christian
    Posted August 2, 2011 at 8:53 am | Permalink

    I work for target in north philadelphia for 10 month an i well tranfer fast to puerto rico this well be good for the company i hope is goin to open one in puerto rico

  5. cely
    Posted August 11, 2011 at 11:58 pm | Permalink

    i live in Puerto Rico… and i need a target store

  6. Albert O'casio
    Posted August 17, 2011 at 3:21 am | Permalink

    A Target store in Puerto Rico would easily become a top in sales in the nation, the same way other stores do in the island, Kmart would be a good example, just to mention one.

  7. Margie Burgos
    Posted August 21, 2011 at 6:14 pm | Permalink

    I’ve being working for the company for about 7 yrs…It’ll be great to have a Target Store in PR. But where will it be located?

  8. Ada I. Santiago
    Posted October 10, 2011 at 9:03 am | Permalink

    Greetings!
    Where can I find an online application for the new store to be opened in Puerto Rico? If you could direct me with this information I’ll appreciate it.

  9. Misael
    Posted April 27, 2012 at 5:50 pm | Permalink

    I know Target will do very good in Puerto Rico. Walmart prices are high. People think Walmart is cheap but is not. I’m always comparing prices and I don’t like Walmart. Also they have so many registers but only open a few. When I need something I rather go to Target. I hope they open a few stores. Specialy in the north west of the Island.

  10. Dorianne Acosta
    Posted June 23, 2012 at 12:35 pm | Permalink

    This is great! I hope it will come soon,especially for the west coast of Puerto Rico. We’re poor of retail stores, we need TARGET! We’ll appreciate it.

  11. Dorianne Acosta
    Posted June 23, 2012 at 8:48 pm | Permalink

    I mean, we LACK of big retail stores.

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