When CVS announced last July that it had entered into an agreement to acquire Navarro Discount Pharmacy, the largest Hispanic-owned drugstore chain in the U.S., the reason behind the deal was no secret: CVS wanted to develop a better understanding of the fastest growing demographic in the U.S. Now, it appears as though the drugstore chain is ready to put what it has learned to the test with the opening of its new CVS/pharmacy y mas concept.
CVS has remodeled 11 existing stores in the Miami area and built one new location under the banner. Stores will feature fully bilingual staff and include more than 1,500 "trusted Hispanic" products, including the Agustin Reyes, Cafe la Llave, Creolina, Fabuloso, Formula 88, and Suavitel brands.
"With more than 7,800 stores across the U.S., we understand that our retail pharmacies should not be one size fits all for the diverse communities we serve," said Helena Foulkes, president of CVS/pharmacy, in a statement. "CVS/pharmacy y mas stores are designed to be a place where our Hispanic customers feel at home to receive our best-in-class pharmacy service, along with personalized products and services to better meet their diverse needs."
Source: cvs.com
The new stores will offer competitive pricing and include more value and family sized products. Stores will include fully staffed Navarro fragrance counters and Cuban coffee known as "Cafecito" will be served between 10 a.m. and 3 p.m. daily.
"We are committed to applying learnings from both Navarro and CVS/pharmacy y mas to other markets with dense Hispanic populations," said Ms. Foulkes.