COLOMBIA – The Orbis Group, a multi-latin company founded 94 years ago in Medellin, Colombia, opened the first Master Pro store in Bogota. The Group’s new hardware store chain in which it plans to invest COP 30 billion (approx. USD 10 million) over the next two years.

Master Pro was conceived under the concept of “a modern hardware store”, which combines the benefits of large surfaces with the proximity of traditional neighborhood hardware stores. The first store, that opened in early April, is the first of four stores planned to be operating in Bogota by the end of 2017. In a second stage, the company plans to expand to other regions of the country.

Diego Loaiza, manager of the Commerce Division at Orbis explained that for two years various existing formats were explored in the region, comparing modern hardware stores in the US with models in Latin America. “That is how we arrived at the model that combined the benefits of the modern channel with the proximity of the traditional channel to position ourselves at an intermediate point between convenience hardware stores and home improvement mega stores, thus complementing the existing offer. To this end was born Master Pro”.

The first store has a sales area of 1,550 square meters and an assortment of over 15,000 products, among them hardware, tools, paints and household items. This store generates 70 direct jobs and an estimated 50 indirect jobs.

Orbis is a business group with 94 years of experience and multi-latin reach. It is present in 15 countries and exports to 25 countries more. Its focus is habitat improvement in business segments of paints and coatings (Pintuco), chemicals production and marketing (Andercol), GRP pipes, tanks and rehabilitation (O-tek) and hardware retail and distribution (Mundial). It has more than 4,500 employees, 300,000 customers and 3,000 suppliers in 15 countries in Latin America. In FY 2015, Group sales reached COP 1.730 billion, while net income came to COP 72,518 million.