A BUDGET hypermarket popular in the United States has expanded its operations in Spain with a new branch in Málaga city.
Costco Wholesale is already open in Getafe and Las Rozas (Greater Madrid region), Sestao (Basque Country) and Sevilla, and offers reduced-price groceries and brown and white goods.
Cut-price hypermarket Costco, based in the USA, is set to open in Málaga in two years' time (photo: MGA73bot/Wikimedia Commons)
It even sells car and bike tyres, toys, books, cosmetics, office equipment, catering equipment and furniture.
The branch on the Costa del Sol will not be ready for trade for a while yet, though: It will be based on the Málaga Nostrum industrial estate after a major renovation job taking around two years, according to Javier Marín, managing director of Bogaris Retail, the development company, which owns the building.
Initial plans were to open a major shopping and leisure centre with Costco at its centre, but the Plaza Mayor complex beat the company to it, so Bogaris Retail is now working on a more 'boutique-style project', Marín explains.
Costco is unique insofar as anyone who shops there has to be a member – the idea being that the subscription fee will easily be earned back in a fairly short time through the cheaper price tags, if club members use the store often enough.
Options, found on Costco.es/membership/signup, will include the Affiliation Gold Star scheme at €30 plus IVA (value-added tax, currently 21%) per year, which – if rates do not change, will be a gross figure of €36.30 or just over €3 per month.
Companies benefit from the reduced membership price, via the Affiliation Business, of €25 plus IVA per year - €30.25 at current IVA rates.
