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"It's Only 100 Dollars!" Chain A Hit In Beverly Hills
(email to a friend) BEVERLY HILLS, California - "Everyone likes a bargain, no matter what their income," explained Dexter Carrison, founder and CEO of the "It's Only 100 Dollars!" store chain. In just twenty-four months, Carrison has grown his one store into a wildly successful fifty-store chain. Carrison continued, "There's always a store about to go under that's more than happy to unload its inventory for a song. And hey, if it says 'Prada', who am I to question its authenticity?"
The concept still has its critics. Chief among them is Barton Lewis, chairman of Championing the Rights of the Poor, or CaRP. "Obviously, this is attempting to capitalize on the national popularity of so-called 'dollar stores', where most or all of the items are priced at or below one dollar. These stores benefit the poor by providing necessary products at affordable prices. Mr. Carrison has at his heart only greed motivating him." "I'll be the first to admit I want to make a profit," admitted Carrison, "But that's hardly a crime. Besides, poor is a relative term. Are you poor as in you live in a country that can't afford to give you clean water? Or poor like you can only afford basic cable? If you can drive a Ferrari and I can only drive a Lexus, am I poor? I'll leave that question to the philosophers."
Undaunted by critics, Carrison says he intends to take the chain public. "We hope to have an IPO in the first quarter of 2005," he said, adding, "Hopefully we can offer some shares or blocks of shares for $100, as a promotion. Wouldn't that tick CaRP off?"
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