Going global

The Chicago-based company has big plans: Over the last three years, their international sales revenue has increased by approximately 40 percent. Their next target is to double international revenue by 2020.
A key factor in this endeavor is international expansion. "Although the international market currently represents a small portion of our overall volume, it is one of the fastest growing areas within our company," says Gabriel Fuen­tes Perez, Senior Director of International.
For this purpose, the company is following a strategic plan built on the three pillars of engagement, growth and efficiency. "We know that signing new retailers is essential to our overall strategy," explains Fuentes Perez. "Over the next few years, we will continue to focus on South America, the Middle East and Southeast Asia."
Recently, True Value announ­ced a new partnership with The Hardware Group, an association of 15 member-owners with stores throughout Puerto Rico. The group currently operates 23 stores on the Caribbean island. Their retail locations vary in size from convenience formats to a larger "mega" layout, with many Hardware Group stores serving the convenience hardware customer and DIYer.

Planned for 2017 is a combination of True Value-branded stores and remodels throughout the island. The group will participate in True Value marketing and loyalty programs, as well as offering gift cards and co-bran­ded credit cards. In addition, True Value has developed advertising circulars solely for the Puerto Rican market. "Our new relationship with The Hardware Group marks an important step in strengthening True Value's strategic position in Latin America and the Caribbean," says Fuentes Perez.
Among others, True Value is focusing on Colombia and Peru. The company has also identified the Middle East - in particular Saudi Arabia - as a target region, with several member-retailers currently located in Kuwait, Dubai, Qatar and Bahrain.
"The growth of our international business is a key initiative as we focus on executing our long-term strategic plan. We already have many retailers around the world who call True Value home. They are market leaders, and we will continue to foster these relationships as we grow and expand together," says Fuen­tes Perez.Another important and…