Overrun retail store chain opens outlet at Asiatown

CEBU, Philippines - Upscale off-price specialty store chain, Tops Off-Price Store Corporation recently opened its 8th store in Cebu at the Asiatown IT Park, to capture the growing 13 thousand BPO workers at the cyber-park.

Operated by franchisee partners Michael Dee and Ronaldo Tan, Tops Off-Price Store hit the Cebu market taking advantage of the dynamic cost-conscious but fashionable market in Cebu.

So far, Tops Off-Price Store is the first apparel and lifestyle accessories retail outlet opened at the park, making the Asiatown IT Park a complete shopping and leisure destination in Cebu.

Located at the i2 building in ground floor, Tops Off-Price Store chief executive officer (CEO) Jonas Ang expressed confidence that the Cebu market will once again embrace the concept of branded overrun retail, while the country is still feeling the effect of the global recession.

With the current economic crisis, shopping for high-end branded goods has suddenly become impractical. For stylish people who want to remain fashionable with putting a dent in their wallet, the Off-Price Store has become a favorite store for growing patrons, Ang said.

Overruns of well-branded apparel and lifestyle accessories from United States and Europe are available in at least 80 percent off from the original price source from the boutiques.

 According to Ang, the store only offers authentic branded labels, such as Armani Exchange (EX), Replay, Crocs, Tommy Hilfiger, Billabong, H&M, Ann Taylor, Junk Food, Jack & Jones, among others.

He said although the country is still feeling the pains of the global financial turmoil, this retail concept has continuously performed very well in the Philippine market, as it gives an alternative to fashionable people trail blazing the trends, without sacrificing their “wallets.”

This concept he said works well during crisis, while the market is constantly looking for cheaper alternatives, without sacrificing the quality of their desired products.

Inspired by the outlet store concepts in the US and Europe, such as TJ Maxx, Ross, Marshalls the off-price retail concept was reconfigured for the Philippine market and packaged into smaller and more convenient store locations.

After six of operating this kind of concept, the company has now a total of eight stores nationwide, located in Metro Manila, Bacolod, Iloilo, Davao and Cebu.

In the next five years, the company projects to grow to at least 35 stores nationwide targeting the key cities in the Philippines, like Cagayan de Oro, General Santos, Naga, among others.

The company which employed professional franchising system through FranCorp consulting, aims at working closely with possible franchisees nationwide, with franchising offering ranges from P500 thousand to P800 thousand, depending on the size of store and location.

Tops Off-Price Store opened its first Cebu outlet years back located at Paseo in Mabolo, but the store closed, after Paseo stopped operations.