Penshoppe parent in Asia expansion

1 min readUpdated May 28, 2025Aug 4, 201610:00 AM

In this article (4)

Philippine fashion retailer Golden ABC Inc is set for Asian expansion.

The company behind Penshoppe, Oxygen, Regatta, For Me, Memo, Tyler and Red Logo said it plans to increase its approximately 660 stores in the Philippines to 700, and open 50 stores elsewhere in the region by the end of 2016.

“The vision of the company is to become the most admired Asian fashion brand company,” said Liu in an interview.

Golden ABC has recently approved six new sites in Vietnam for its expansion there. Currently, it has more than 40 stores outside the Philippines, and most of these are located in Indonesia, Vietnam, Saudi Arabia, Dubai and Bahrain. It also has a store in Cambodia and will debut in Myanmar in August. Online, Golden ABC has a strong presence in Singapore, Malaysia, Taiwan and Hong Kong.

Liu added that Asia is the focus as of the moment, and there are no plans to open stores in the US or Europe yet, despite invitations to these markets.

“I want to put more focus and attention in ASEAN, which I think rightfully deserves the opportunity because that is really the new frontier, the new growth area,” he said.

Commenting on the entry of foreign brands in the Philippines, Liu said: “You have to level up by preparing. You invest and innovate. You look at best practices and how you can differentiate.”

AdvertisementAdvertise with usMobile 320×100

What this means

Golden ABC's targeted expansion into 50 new Asian stores by end-2016, particularly its six approved sites in Vietnam, is a strong offensive move. This strategy uses the company's existing regional presence, similar to Panpuri's multi-store growth, to counter the influx of foreign brands into its home market and solidify its 'most admired Asian fashion brand' vision. While some brands like Oh!Some face store closures, Golden ABC's aggressive physical retail growth in dynamic ASEAN markets suggests confidence in bricks-and-mortar. The focus on new market penetration, rather than just online, pressures local competitors and those expanding cautiously. The main risk lies in rapid saturation or misjudging local preferences. Watch for the actual store count in Myanmar by year-end.

Rajiv Menon · Retail News Asia newsroom

Questions & Answers

What is Golden ABC's overarching ambition for its brands?

The company's vision is to become the most admired Asian fashion brand company. Its current focus is on expanding within Asia, particularly the ASEAN region, which it sees as a new growth frontier.

Which countries outside the Philippines currently host most of Golden ABC's international stores?

Most of the more than 40 stores outside the Philippines are currently located in Indonesia, Vietnam, Saudi Arabia, Dubai, and Bahrain. The company also has a store in Cambodia and will open in Myanmar in August.

Does Golden ABC have any plans for expansion into Western markets such as the US or Europe?

No, Golden ABC currently has no plans to open stores in the US or Europe, despite receiving invitations from these markets. The company's immediate focus is on expansion within Asia, especially ASEAN.

Reader pulse

Is Golden ABC's aggressive Asian expansion strategy optimal?

23,703 votes so far