By Leslie D. Venzon
MANILA, April 26 (PNA) — The Villar family’s retail arm All Value Holdings Corp. is investing about Php 12 billion to put up 30 to 40 more AllHome appliance and furnishings stores nationwide, as it embarks on an aggressive expansion in line with plans to publicly list its home-improvement chain in three years.
At the opening of its 8th AllHome store in Sta. Rosa, Laguna, All Value chairman Manuel B. Villar said the company will establish six to eight branches a year until 2019 amid the construction boom in the country.
“More people are upgrading their homes and new houses are being built. With this prosperity, our timing here is perfect,” he told reporters.
Villar said they aim to open four more branches this year in Imus, Las Pinas, Antipolo and Bataan; and expand two existing branches in San Jose Del Monte, Bulacan and San Fernando, Pampanga.
He said the company plans to set up six to eight stores, including those in key cities Cagayan de Oro, Iloilo and Davao by 2016.
Villar said it will spend Php270 million to Php300 million for each store with sizes ranging from 3,500 to 12,000 square meters per branch.
“We think that there are still many places in the Philippines where we can expand. At least for the next five years, I think (our expansion target) can be achieved,” he said.
Villar said the company expects to hit the 35-store target by 2017 to be able to launch an initial public offering (IPO) for its home-improvement chain at the Philippine Stock Exchange (PSE) in about three years. (PNA)