Anything that people will use on themselves to make them feel better, look better, or just give them some confidence, that’s the type of product we offer.” A FAMILY-DRIVEN JOURNEY TO SUCCESS The story of Pennywise began with Mr. Lall Pall Paladee, Shivum’s grandfather, who started selling goods door-to-door on a bicycle he won in a raffle. “He would buy items in Port of Spain and then ride to the rural part of Trinidad to sell items you would buy in the city,” Paladee recounts. Over time, this enterprising spirit led to successful market stalls in Chaguanas, and Tunapuna, which his five sons would help at after school. Carrying on the tradition of entrepreneurship, Shivum’s father, Dalvi Paladee, left university to open the first Pennywise store. “He encouraged all of his brothers to work together with him as well,” he explains.“They put everything together.They worked for years and years without taking a salary. Everything was reinvested back into the business, and over time, with that type of dedication and cooperation, they opened another branch and another branch.” Today, the company owns the properties in seven of its ten locations, including two malls, where Pennywise is the anchor store. “It has been quite a rapid growth over the past 35 years or so. We have been blessed to have this type of success. I think it’s because of what we offer, which is the best prices and the widest range of items,” says Paladee. THE PENNYWISE ADVANTAGE The Pennywise business model focuses on high sales volume and minimal markup, offering a range of premium to affordable options. Along with this, the company puts an emphasis on staying ahead of beauty trends, recognizing that the industry is always changing. To further enhance customer engagement, Pennywise locations feature individual booths, which act as “stores within a store.”These spaces are rented out to suppliers and feature major international brands like Revlon, Maybelline, and L’Oréal, as well as beloved local brands such as Sacha, creating an opportunity for promotions and a personalized experience. Pennywise also ensures that employees stay current on the latest products and trends. From certified makeup artists to perfume experts, Paladee says customers can be confident they will receive the most knowledgeable advice. Another advantage for Pennywise is its strong relationships with global companies such as Procter 29 BUSINESS VIEW CARIBBEAN VOLUME 12, ISSUE 01 PENNYWISE COSMETICS
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