Philippine chain AllHome eyes strong expansion
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Philippine home-store chain AllHome will expand its store network to push its selling space beyond 450,000sqm this year.
“We are set to bring AllHome to more locations in 2020,” said the firm’s chairman Manuel Villar Jr. “Our expansion program is both sustainable and strategic by taking advantage of the synergies between our real estate companies, such as Vista Land, as well as the opportunities in the home improvement industry in the Philippines.”
As of last year, the firm’s total selling area covered 313,000sqm.
In part as a response to the coronavirus outbreak, the firm has moved to secure its inventory sufficiently enough to cover its planned expansion and existing network for several months. China is one of AllHome’s major inventory sources.
“We can easily shift to our other existing sources, like Vietnam, Indonesia, Malaysia, Thailand, India, and even the US,” said AllHome president Benjamarie Therese Serrano. “Our fresh funds indeed came in at the right time when it comes to our inventory management.”
AllHome’s net income grew 225 per cent in the first three quarters last year. Its total revenues increased by 72 per cent to PHP8.2 billion (US$162 million).
Questions & Answers
Q.What is AllHome's target selling space for this year?
What is AllHome's target selling space for this year?
AllHome aims to increase its total selling space beyond 450,000 square metres this year. This represents a significant expansion from the 313,000 square metres it covered last year.
Q.How does AllHome plan to achieve its expansion goals sustainably?
How does AllHome plan to achieve its expansion goals sustainably?
The company plans a sustainable and strategic expansion by using synergies with its real estate companies, such as Vista Land. This approach also capitalises on opportunities within the Philippine home improvement sector.
Q.How has AllHome prepared its inventory in response to the coronavirus outbreak?
How has AllHome prepared its inventory in response to the coronavirus outbreak?
AllHome has secured sufficient inventory to cover its planned expansion and existing store network for several months. The firm stated it can easily shift sourcing from China to other countries like Vietnam, Indonesia, and India if needed.
Q.What were AllHome's financial results for the first three quarters of last year?
What were AllHome's financial results for the first three quarters of last year?
AllHome's net income saw a substantial increase of 225 per cent during the first three quarters of last year. Its total revenues also rose by 72 per cent, reaching PHP8.2 billion.
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