URUGUAY. Border store retailer Neutral Duty Free yesterday celebrated its 30th anniversary, three decades to the day since it opened its first store in Chuy on the Uruguayan/Brazilian crossing.
CEO Enrique Urioste greeted VIPS, including local authorities, friends, partners and customers at the Chuy store at a special function to honour the landmark occasion. A giant 30th anniversary cake was then cut, allowing guests a symbolic taste of retailing history.
Urioste talked of the anniversary as a key milestone and spoke passionately about both the history and future of Neutral. He highlighted the fact that Neutral was the first store to open on the Uruguayan/Brazilian border and also the first chain retailer to operate in all the country’s major cities.
He also spoke of the 2015/16 economic crisis and saluted the critical role of Neutral’s staff in helping the company navigate through troubled waters. “Their commitment was crucial,” he said.
Urioste then described how the company actually turned the crisis to its benefit by reducing operational costs; signing strategic alliances with Brazilian tour operators; improving customer service; recertifying ISO 9001 (a certified quality management system for organisations which want to affirm their ability to consistently provide products and services that meet the needs of customers and other stakeholders); and winning a national quality prize. It also focused on retraining staff and embracing social media as a key marketing tool.
Neutral Duty Free Shop runs nine border stores in six cities: Acegua, Artigas, Bella Union, Chuy (two) Rivera (two), Rio Branco (two) on the Uruguay/Brazil land border and Departures and Arrivals airport duty free stores at Rosario in Santa Fe, Argentina.
[Click on the YouTube icon to view Mi Schaefer’s Vlog about Neutral’s latest Rivera store, including a visit to Victoria’s Secret]
Urioste, one of travel retail’s most respected voices (and a former senior executive with InterBaires and Duty Free Americas), led a fund buy-out of Neutral in early 2011.
He was backed by JH Partners, a San Francisco-based private equity firm focused on building sustainable, long-term equity value in consumer and marketing-driven growth companies.
