By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A Bahamian retail entrepreneur yesterday revealed he is expanding to Bay Street through a $700,000 investment that will create 20 jobs, adding: "There's always opportunity in the midst of crisis."

Andrew Wilson, the Quality Business Centre (QBC) and Fashion on Broadway principal, told Tribune Business he has secured a 5,000 square foot site opposite the Straw Market that will target tourists via a "new concept" that will "return me to my manufacturing roots".

Suggesting that his move had been made possible by the exodus of "foreign-owned retailers" from downtown Nassau due to the COVID-19 pandemic, and continued cruise industry shutdown, he added that the venture planned to showcase leather goods, jewellery and clothing products from "select designers" in The Bahamas and abroad.

Disclosing that much of the new store's products will be manufactured in west Africa, principally Ghana, Mr Wilson said he had not finalised a name for his expansion as he was still "test marketing" the brand and overall proposition.

"My biggest project in the post-COVID era is that we have secured 5,000 square feet of retail space downtown on Bay Street opposite the Straw Market," he revealed to this newspaper, "so I'm looking forward to entering and generating more sales from visitors upon their return.

"It's a new concept that I'm really excited about. It's still being formulated but that project will also be returning me to my manufacturing roots, and we will be introducing new lines of products in the area of leather goods, apparel, souvenirs and jewellery. There's always opportunity in the midst of crisis."

Mr Wilson's current retail formats employ around 30 persons, and he disclosed that the Bay Street venture will "create at least an additional 20 jobs". Asked about the scale of his investment, he replied: "All in, it's in the region of $700,000.

"We are working diligently to have our project ready for December 1 or the appearance of the cruise ships in the harbour of Nassau. I am still test marketing the concept, so have not finalised the name yet. There are a few options, but at this point I have not finalised the brand."

While some observers may argue that Mr Wilson is somewhat optimistic over the timing of the cruise industry's return, his investment and expansion plans represent a badly-needed vote of confidence in the tourism industry's prospects and those of the wider Bahamian economy.

While the promise of 20 jobs may appear modest when set alongside the thousands of Bahamians who have been laid-off or seen their incomes cut due to COVID-19, his move also offers some hope that there are still entrepreneurs with the risk appetite and financing who can create employment.

Mr Wilson, meanwhile, said the venture will distribute wares from "selective designers, locally and abroad", in the categories of leather goods, jewellery and clothing. "A lot of those products will be made in established factories in west Africa, where I expect to be purchasing a lot," he added.

"I'm looking forward to it. It's just a question of taking advantage of the opportunities the pandemic has created and continue to grow the business.... The opportunities that are now available through the fact so many of the foreign retailers have pretty much fled, and if not fled then pretty much abandoned, their spaces downtown.

"Eventually tourism will be back, and bigger than it was before, so to the extent we're able to seize some of these opportunities now they are available is going to be critical going forward. I'm going to keep my shoulder to the wheel."