December 2016 | Business View Caribbean

64 65 ABEDS S. ABED & COMPANY LTD. THE CUTTING EDGE S. Abed & Company Ltd. was started in 1963 by the husband and wife team of Shouket and Milly Abed. “At the time, what was being offered in the marketplace was of extremely low quality and very ge- neric in terms of fabrics,textiles,and home furnishings,”says EddyAbed, the company’s current ManagingDirector and son of its founders.“And they felt therewas a niche to be exploited.”According toAbed,his parents stocked their first store in Bridgetown,Barbados with goods fromSwit- zerland,Germany,andAustria,that his father bought on a trademission. But,that first year,the couple lost somuchmoney that theyclosed the business in short order,with no plans to ever reopen. However,in 1964,another opportunityarose when a space became available on Swan Street, the most popular thoroughfare in Bridge- town.With financial help from an uncle,Shouket andMilly tried again, and this time, they were successful.“The stars lined up in the right direction from then till now,” says Abed.“Business has grown from strength to strength.”Abed, himself, a civil engineer by training, joined the business some 35 years ago.“In the early‘80s,mydad came tome and said that hewantedme in the business,”he recounts.“And,at that time,I was arrogant and brash and I told him that he couldn’t afford to payme.Many,many times, I’ve eaten those words.” Today, abed’s, as it is known locally, is a retail/wholesale