MANILA, Philippines - Supermarket chain Puregold Price Club Inc. is spending P3 billion next year to fund its expansion plans.
Puregold vice president for operations Antonio de los Santos told reporters during the 1st KAIndustriya Convention that the firm is allotting P3 billion to open new stores next year.
“The goal is always 25 stores every year,” he said
Each store, he said, would require an investment of between P100 million to P150 million.
At present, Puregold has 226 outlets following the opening of a new store located in Quirino Highway along the boundary of San Jose del Monte in Bulacan and Novaliches.
Aside from opening new outlets, the firm is open to acquisitions of other supermarkets.
“We’re always looking. We’re always looking at the right opportunity at any part of the country,” De los Santos said.
As the grocery chain wants to expand its footprint in the country, it also wants to better serve its customers to grow.
Apart from sari-sari store owners, Puregold is also coming up with activities and programs targeted for food sellers part of KAIndustriya that source their products from the grocery chain.
“(With KAIndustriya), we don’t only act as a retailer, but also as a consultant,” De los Santos said.
Puregold currently provides bundle packs and discounts on merchandise.
“Food sellers are not even 10 percent of our customers, but Puregold doesn’t mind it. The food industry needs something new,” De los Santos said.