STO People's Choice has Opted to Lease Racks and Shelves to Vendors

STO will be leasing 6x2ft racks or 4ft 2inch shelves for vendors that are interested in selling their products via STO. Each product category will have a certain number of racks/shelves, and STO will provide a mandatory list with regard to the nature of the product category.

Interested applicants can fill out the rack vendor form here and submit it via email to leasing@sto.mv. STO will then request the vendors' proposal within 24 hours of submitting the form, where the leaser must provide details on how many racks/shelves they want to lease, their rent and commission offer rates, and other terms and conditions of the leaser. They will receive an answer to their proposal within 5 working days. Chances of being accepted will be higher for vendors that provide a Manufacturing / Distributorship appointment letter, provide a good rent and commission offer, has a good market presence with enough years of service, and have a good sales plan.

Parties interested in leasing racks and shelves must fit into one of the following entities:

• Company
• Partnership
• Sole Proprietorship
• Government Agency
• Local Investment

Products that they wish to sell must fit into the product category list in Annex 1 of this document, and if the product is made and packed locally in the Maldives, it must fit into MFDA regulations.

According to STOs terms and conditions, the leaser will need to pay rent and an annual maintenance fee of 5% of monthly rent. 5% of sales made must be paid to STO as commission. STO may also request to place a specific brand depending on the product type or request to set a special price depending on the market price and availability. The leaser will be responsible for managing the rack/shelves, and stocks must be brought to the selling area only as STO will not be providing storage space for any additional stock.