Wilcon Depot to open up to 10 stores this year

MANILA, Philippines — Home improvement and construction supplies retailer Wilcon Depot Inc. is showing no signs of slowing down on its network expansion after reaching its 100th store milestone last year, with the company currently looking at opening as many as 10 stores this year.

Wilcon president and CEO Lorraine Belo-Cincochan said the company intends to add eight to 10 new stores to its growing network this year.

She said the new stores would be a mix of small and medium formats, most of which located in Luzon, except for one in Cebu that is coming up some time in the second quarter.

“We already opened one (this year) and then we are opening in Cubao, Quezon City on March 28 so that will be two,” Belo-Cincochan said.

With the opening of a branch in Lubao, Pampanga in December last year, Wilcon was able to achieve its 100th store milestone a year ahead of its 2025 target.

Belo-Cincochan said Wilcon is also set to improve its legacy stores aside from adding more branches this year.

“Since we have already reached 100, now we kind of want to focus on the renovation of our existing stores so that they will be able to keep up with our new stores. So there will still be new stores, but also renovate or really facelift the older stores here in Manila,” she said.

Wilcon started in 1977 with its first store in Quezon Avenue, Manila.

By expanding with its smaller store formats, the company aims to make its offerings even more accessible to underserved areas.

Wilcon has yet to release its full year 2024 financial results, but from January to September last year, the company saw a 22.3 percent drop in net income to P2.1 billion as sales declined by one percent year-on-year to P25.7 billion.