MANILA, Philippines — E-commerce distribution firm Great Deals E-commerce Corp. is aiming to triple sales this year as it expands operations in the country through building new platforms and warehouses.
Great Deals founder and chief executive officer Steve Sy said the firm has set a target to triple sales this year.
This, after the firm’s sales which reached P500 million in 2018, doubled last year.
The firm is upbeat it could continue to grow sales this year, as it intends to expand operations after raising $12 million from Philippine-based private equity firm Navegar.
Great Deals and Navegar signed the definitive agreements on the fund raising last Jan. 23.
Sy said the firm would be using the proceeds to enhance the company’s information technology, infrastructure, warehouse capabilities and technology solutions, as it aggressively expands its presence in the country.
“Our plan is to create new platforms and channel partners aside from Lazada and Shopee,” he said.
In addition, he said the firm would be building warehouses in Visayas and Mindanao.
“We are ecstatic to continue building and implementing successful online retail, distribution and marketing strategies for our 250+ brand clients in partnership with Navegar.