Es de Velasco

Es de Velasco

File:Velasco logo.jpg Emblem used between 1965 and 1995
Company type	Department store
Industry	Retail
Founded	1939 (1939)
Founder	Domingo Velasco Alonso
Defunct	Template:End date and age
Fate	Purchased by González Padín
Headquarters	Arecibo, Puerto Rico
Number of locations	10 (at its height)
Owner	González Padín

Es de Velasco, commonly referred to simply as "Velasco", was a luxury department store chain that operated throughout Puerto Rico. The brand was eventually acquired by its primary rival, González Padín, in 1991 and ceased operations in 1995.

Beginnings

For many immigrants, the United States represented more than just a landmass; the New World symbolized a promising realm where fame and fortune could be attained. While this vision remained unattainable for most, Domingo Velasco Alonso, a highly driven young Spaniard, transformed this American ideal into a tangible achievement. He arrived on Puerto Rican shores in 1905 and began working in the city of Ponce.

By 1908, he relocated to Arecibo, joining a wholesaler and retailer firm known as "La Puertorriqueña," which was operated by successors of Lezcano y Co. However, Velasco did not intend to remain an employee indefinitely after crossing the Atlantic. Consequently, in 1917 he partnered with local merchant Antonio Aguirre to establish the "El Cacique" store in Arecibo. Their venture quickly flourished; within less than a year, the business expanded into a thriving commercial chain with three outlets in Arecibo and additional locations in neighboring towns such as Utuado, Lares, and Quebradillas among others.

This rapid expansion was largely due to the founders' remarkable entrepreneurial spirit and especially innovative marketing strategies implemented by Domingo Velasco. Uncommonly for that era, Velasco shared profits equally—allocating 50 percent to branch management. Furthermore, unlike competitors who imposed markups on goods sold to their branches, Velasco refrained from such practices, enabling his stores to offer more competitive pricing.

The business prospered so significantly that by age 40, Velasco retired from active management in 1931 while retaining limited partnership status and moved back to Spain with his family. Nevertheless, his absence negatively impacted the enterprise’s performance, prompting his return to the Americas in 1936.

File:Velasco El Cacique.jpg

"El Cacique" store located in Arecibo circa 1919

In 1939, Domingo Velasco Alonso inaugurated "Velasco Alonso" in Arecibo—the first establishment under the Velasco name—which at that time was the largest department store on the island outside of San Juan.

Expansion: 1950s–1980s

On May 2, 1952, Velasco ventured into new territory by launching a store in the capital city of San Juan. Situated on Calle Fortaleza, this establishment mirrored the elegance and contemporary style of upscale New York City outlets. The architectural design was crafted by the distinguished Puerto Rican architect Pedro Luis Amador, while the interior decoration was overseen by Mr. Rafael Margarida, featuring a thoroughly modern aesthetic for that era. The grand opening attracted hundreds of women who received samples of perfumes, cosmetics, and various products from representatives of multiple commercial brands participating in the event. Additionally, the attendees were gifted numerous exquisite orchids from Velasco’s proprietors.

A new branch opened on April 27, 1957, on McKinley Street in Manatí.

On April 18, 1958, Velasco unveiled a new store at the San José Shopping Center located in Río Piedras. Embracing the contemporary trend of situating retail outlets near emerging residential developments to enhance shopper convenience, this one-story store was artistically designed and positioned adjacent to the Pueblo supermarket and Woolworth’s five-and-dime store within the shopping complex. The store catered to housewives seeking high-quality products at nationally recognized prices from reputable brands. Featuring twenty well-organized departments that offered an open and spacious feel, the merchandise was displayed prominently for easy viewing by customers. Mr. Antolín Velasco managed this suburban Río Piedras location, and local decorator Edna Rozas Mera from Arecibo selected a warm color palette dominated by shades of golden yellow accented with orange and white.

The renovated and expanded Velasco store in Arecibo reopened on October 5, 1963, at its site on De Diego Avenue number 159—marking the flagship among the chain’s ten stores at that time. Despite an electrical short circuit causing alarm and prompting many visitors to leave around midday, some patrons remained on the second floor where a fashion show continued uninterrupted. The Arecibo store was distinguished by its elegant and unique interior design: draperies made of colorful plastic bead strings adorned the space; olive green carpets covered the first two floors while the third floor—housing gifts, glassware, crockery, and linens—featured imitation ceramic tiles in white and ice blue hues. Approximately fifty employees staffed this location, contributing to a total workforce of about 200 across ten stores situated in three locations within Arecibo and one each in Manatí, Bayamón, San Juan, Río Piedras, Utuado, Lares, and Aguadilla.

With financial support consisting of a $600,000 loan from Banco Gubernamental de Fomento and $300,000 participation from First National City Bank, a new Velasco branch opened on September 12, 1968 at the Plaza Las Américas shopping center in San Juan. This project was designed by architects Amaral y Morales. In recognition of its interior design excellence, this Plaza Las Américas location received an award featured in the February–March 1969 issue of URBE magazine.

By 1972, adapting to evolving retail strategies of that period, all stores were consolidated under "es de Velasco, Inc." Leadership passed to Domingo Velasco Alonso’s descendants who upheld his legacy of commercial innovation.

On April 6, 1975, an explosive device detonated inside the Velasco store at Plaza Las Américas causing approximately $1,500 in damages; fortunately no injuries occurred.

The opening of a new Velasco outlet took place on September 28, 1979 within the Plaza Carolina mall in Carolina. With an investment exceeding $4 million for its expansive 65,000 square feet area, each department was meticulously designed to exude exceptional sophistication. The first floor—conceived by New York architectural firm Copeland, Novak and Israel along with renowned designer Isabel Montulier from Montgomery—boasted some of the world’s most prestigious cosmetics sections along with Velasco’s inaugural exclusive casual wear department offering an extensive collection appealing to women’s tastes. Reinhold jewelry store debuted here as well with exquisite pieces inspired by Puerto Rican folklore alongside its fine precious metal creations. The men’s section occupied significant space with luxurious wood finishes and pastel carpeting providing an inviting shopping environment for male clientele. Access to the second floor involved ascending through an area illuminated naturally via glass skylights overhead; this level housed elegant women’s apparel departments plus children’s clothing and baby sections complemented by a fine glassware department featuring white oak parquet flooring. Additional facilities included administrative offices, credit services, security quarters, a conference room, employee lounge areas as well as storage spaces equipped with state-of-the-art telephone switchboards, air conditioning systems, security measures and computing technology—all pioneering for retail establishments at that time.

Velasco marked its first anniversary at Plaza Carolina on September 25, 1980.

File:Velasco Plaza Carolina atrium.jpg

Velasco store at Plaza Carolina shopping mall atrium in Carolina in 1980

However, on August 25, 1981 management announced plans to close their Plaza Carolina location—the largest luxury goods retailer on the island at that time—situated approximately twelve miles east of San Juan. Mari Borrero Bou, marketing director for Plaza Carolina then explained that although specific closure dates were not yet set, the decision stemmed from demographic mismatches; the store's high-end pricing did not align well with the predominantly middle-income families residing nearby despite frequent patronage by affluent Venezuelan tourists known as some of Puerto Rico’s top spenders.

Liquidation sales commenced at Plaza Carolina on August 27 and concluded with closure by August 29 of that year.

On February 19, 1986—a Wednesday evening—the Velasco store at Plaza Las Américas witnessed an unprecedented influx of customers drawn by European celebrity Paloma Picasso’s visit promoting her eponymous perfume line “Paloma Picasso.” Approximately four hundred attendees gathered eagerly around her presence as the fragrance permeated throughout the venue which was adorned to reflect the event theme with black swimsuits complemented by red-and-black vases and trays alongside coordinated dresses.

Beginning March 14, 1987, operations from Velasco’s Old San Juan location officially transitioned into their Plaza Las Américas branch as part of comprehensive renovations aimed at consolidating offerings under one roof to provide customers with premier quality products.

On October 3, 1989 it was announced that Velasco would exclusively introduce Gieves & Hawkes men's suits—tailors appointed by Royal Decree to serve the Prince of Wales—in limited quantities across their stores with both ready-to-wear selections and personalized tailoring services available during this launch event starting October 4.

Plans surfaced on August 16, 1990 for expanding Velasco’s Plaza Las Américas store through construction adding two extra floors totaling approximately 72,000 square feet above existing premises; this project also involved remodeling parts of the mall's third level designed by Méndez, Brunner & Asociados.

Acquisition and Closure

In December 1991, Velasco was purchased by González Padín & Co., a rival upscale department store chain on the island that had competed with Velasco for many years.

By October 31, 1995, it was announced that González Padín would undergo a full liquidation of its stores, including the Velasco locations, due to financial difficulties. The entire chain was scheduled to cease operations by December of that year.

B&B (Bonito y Barato) and Almacenes Tan Tan

Almacenes Tan Tan inaugurated a new outlet at the Plaza Carolina Mall in Carolina on October 9, 1978.

On March 28, 1980, B&B (Bonito y Barato) launched a store at the Plaza 18 Shopping Center located in Santurce.

A report dated October 22, 1980, revealed that Citibank extended a $3.1 million loan to Velasco Alonso of Arecibo to support the growth and modernization of its retail chains B&B (Bonito y Barato) and Almacenes Tan Tan. Velasco Alonso Inc., headquartered in Arecibo and originally formed through a partnership between Domingo Velasco and Generoso Alonso, operated these chains. Over several years, the company expanded and upgraded its operations, eventually managing 13 department stores across the northwestern region of Puerto Rico, including the metropolitan San Juan area.

B&B (Bonito y Barato) opened another store at El Canton Mall in Bayamón on December 11, 1980.

On August 5, 1981, it was announced that Ulises Cadilla & Asociados Inc. had been appointed as the advertising agency for B&B (Bonito y Barato), a retail company. Antonio Velasco, president of B&B, stated that the company planned to allocate around $400,000 toward advertising and public relations that year. The B&B chain operated branches in Santurce, Arecibo, Bayamón, Utuado, Lares, Mayagüez, San Sebastián, and Aguadilla. Meanwhile, its subsidiary chain Almacenes Tan Tan maintained stores in Isabela, Bayamón, Manatí, Arecibo, and Carolina.