May 16, 2013 In News
OLIVE BRANCH, Miss.—State and local officials and officials from Five Below, a merchandise retailer to the teen and pre-teen markets, gathered today to cut the ribbon on Five Below’s new distribution operations in the former Mazda building in Olive Branch, Miss., in DeSoto County. The project represents a $2 million company investment and will create more than 100 new jobs.
“This is a great day for DeSoto County and north Mississippi as Five Below opens its distribution facility and creates new job opportunities for the area’s workers,” Governor Bryant said. “North Mississippi is a prime location for companies that need easy distribution access to markets around the country, and I am pleased to officially welcome Five Below to our state.”
Five Below CEO and co-founder Tom Vellios believes Olive Branch serves as an excellent location for the distribution center and plans to increase hires by the end of 2013.
“DeSoto County has already proven to be a great place to do business, and we’d like to thank Governor Bryant and all state and local officials for their support in preparing our new distribution center to open for business,” said Tom Vellios, CEO and co-founder of Five Below.
“This location will be crucial to the growth of our company as we expand our presence to new western markets. We’re happy to report that we’re fully staffed and have everyone in place to make this distribution center a success, though we will likely look to add additional associates in the fourth quarter of this year,” said Vellios.
The Mississippi Development Authority provided assistance in support of the project for recruiting, training, equipment freight and installation, relocation expenses or other activities related to the company locating in Olive Branch.
“We are happy to have been able to assist Five Below with its location to Mississippi, and we are grateful to the company for its investment in Mississippi and in our workforce,” said MDA Executive Director Brent Christensen. “MDA congratulates Five Below and our partners in DeSoto County on this exciting occasion.”
Five Below is a leading retailer of extreme-value merchandise – priced between $1 and $5 – for the teen and pre-teen markets. The company’s dynamic assortment of merchandise ranges from sporting goods, fashion accessories and jewelry, bath and body products, room décor and storage to stationery and school supplies, video game accessories, books and seasonal items. For more information, visit www.fivebelow.com.