Puregold reveals expansion plan
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Philippines’ retail chain Puregold will open 25 outlets this year to boost its nationwide footprint. Parent company Puregold Price Club also plans to open four more S&R Membership warehouse stores. Planned locations include Metro Manila, Southern Luzon, and outside Metro Manila. Puregold VP for investor relations John Marson Hao said the company would use proceeds from the recently-concluded P4.69-billion public offering to fund the construction of the new outlets.
The Puregold group operates 397 stores nationwide, including 345 Puregold stores, 16 S&R membership shopping warehouses and 36 S&R New York Style outlets.
Questions & Answers
Q.How many new Puregold outlets does the company intend to open this year?
How many new Puregold outlets does the company intend to open this year?
Puregold plans to open 25 new outlets this year. This expansion aims to enhance its presence across the Philippines, adding to the existing 345 Puregold stores already operating nationwide.
Q.What type of new stores, in addition to Puregold outlets, are included in the expansion plan?
What type of new stores, in addition to Puregold outlets, are included in the expansion plan?
The parent company, Puregold Price Club, also intends to open four new S&R Membership warehouse stores. These will add to their current 16 S&R membership shopping warehouses and 36 S&R New York Style outlets.
Q.Where are the planned locations for the new Puregold and S&R stores?
Where are the planned locations for the new Puregold and S&R stores?
The planned locations for these new outlets include various areas. Specifically mentioned are Metro Manila, Southern Luzon, and other regions located outside of Metro Manila, to boost nationwide coverage.
Q.How will Puregold fund the construction of the new outlets?
How will Puregold fund the construction of the new outlets?
The Puregold group will use the proceeds from a recently completed public offering to fund the construction. This offering successfully raised P4.69-billion, providing significant capital for the expansion.