Operator of Successful, OneMart Grocery in the British Virgin Islands.
New Store Locations Being Opened with Enhanced Reimagined Concept.
Record Revenue Increase of 36 Percent over 2021.
Record Profits Up 61 Percent over Last Year.
Sales for March and April Exceeded $3 Million Each Month.
20 Year Exclusive Agreement for Rydeum’s DoGetGo App in 28 Countries.
OM Holdings International, Inc. (Stock Symbol: OMHI) serves consumers and retail customers by providing a multi-tenant on-demand technology platform for the delivery of goods and services throughout the Caribbean from a single mobile app. OMHI vertically integrates contactless delivery of these essentials, while simultaneously providing multi-modal transportation.
OMHI was formed through the fusion of Rydeum, an on-demand technology platform founded by Mark Hannah in 2019, and OneMart, a 35-year-old grocery store founded by Mark Vanterpool in 1986. The OMHI technology subsidiary, Rydeum partnered with Jamaica’s largest taxicab union (12,000 drivers) in 2021. This segment provides an Uber-, Grubhub-, and Instacart-like platform which uniquely satisfies the needs of local on-demand economies (LODE) in the Caribbean. The OMHI storefront and essential goods subsidiary, OneMart is the second largest grocery provider in the British Virgin Islands. This segment offers groceries, home goods, electronics, furniture, and some building supplies – just like Walmart. It sells wholesales products to restaurants and hospitality venues and caters to retail customers as well. OMHI is a Nevada Corporation headquartered in Miami, Florida.
Information Technology OMHI is launching the first super app in the Caribbean, which allows consumers to get rides, buy essentials, and obtain services in real-time.
Retail & Wholesale OMHI is combining traditional retail and wholesale with real-time delivery to offer an Amazon-like experience in the Caribbean.
Building Supply OMHI is leveraging economies of scale to supply DIY and commercial building supplies, at a reduced cost, to its retail and wholesale customer base.
Logistical Solutions OMHI is combining its mobile app technologies with existing transportation infrastructures to increase delivery efficiency.
OMHI Opens New Store with Reimagined Format
On June 2nd OMHI expanded its footprint with the grand opening of its first neighborhood OneMart store in Baughers Bay, British Virgin Islands (BVI). The design and location add to the OneMart’s ‘People’s Store’ concept by being conveniently located near residential areas and in line with the OMHI strategy and vision to meet customers’ needs in their communities and will further promote the company’s successful delivery app ‘DoGetGo’.
Mark Vanterpool, President, and Chairman of OMHI stated, “OneMart new stores expansion continues despite delays. Asdue to logistical and equipment manufacturing issues. During the COVID-19 Pandemic, sourcing equipment for supermarkets has been challenging. However, we successfully solved this by accessing auctions of existing equipment.”
“Our business plan includes eight new OneMart store openings throughout BVI over the next two years. We intend to develop a network of stores across the BVI that will serve as like Amazon-like hubs to facilitate faster delivery times of essentials through the DoGetGo Super App. As we open new stores, we believe there will be a benefit from economies of scale allowing us to increase profit margins as a result of our purchasing power,” concluded Mr. Vanterpool.
OMHI also reported on its developing East End Fat Hogs Bay superstore as scheduled to open in the third quarter. The New East End Store construction is completed, equipment and shelves are in place, and equipment installation and testing is in progress.
Record Revenue and Increased Profitability for the Six Months Ended 28 February 2022
On May 19th OMHI announced it anticipates a record six months and a record year.
For the six months ended February 28, 2022, OMHI reported record results, with revenue increasing 36 percent to $18,059,000, versus $13,268,000 for the prior-year period. Net profit increased to a record 61 percent, $1,047,832, compared to net income of $650,827 for the six months ended February 28, 2021.
“The increase in business came from our food service operations, delivery services and yacht provisioning, in spite of supply chain pressures and the pandemic,” said Mark Vanterpool, President and Chairman of OMHI. “Our sales are rising even as shoppers see the price of food, fuel and other goods creep higher. Our company continues to become more efficient and productive, which is reflected in our bottom line.”
For more information on OM Holdings International, Inc. (OMHI) visit: https://omholdingsinc.com.
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Company Name: OM Holdings International, Inc.
Contact Person: Mark Vanterpool CEO
Email: Send Email
Address:1221 Brickell Ave, Suite 900
State: FL 33131
Country: United States