SM Simply Shoes plans 100 stores
In this article (5)
Retail chain SM will help its footwear affiliate SM Simply Shoes reach a total of 100 stores across the Philippines by the end of next year.
SM Simply Shoes has 24 outlets since opening in September 2014, and aims to reach its 60th store by the end of this year, says SM assistant VP Elizabeth Nathalia Tinio.
She says the shoe store targets emerging cities and towns while the main SM malls serve the metropolitan cities and sell more expensive branded footwear.
SM has also set a target to reach 75 stores by next year.
Four Simply Shoes stores have opened already this year, in Kabankalan and Victorias in Negros, in Boracay in Aklan, and, this week, in the new CityMall in Tagum, Davao del Norte. It plans more stores in Bulua, Cagayan de Oro City, inside MinPro Mall in Zamboanga, inside CityMall in Dipolog City, in Lam-an, Ozamis City, and in Surigao City.
Simply Shoes offers affordable shoes and bags and carries 20 brands including SM’s Parisian brand and Solemate.
“The shoe industry in the Philippines is growing by 5 to 10 per cent every year,” says Tinio.
Simply Shoes’ stock comes from suppliers in China as well as from Filipino shoe manufacturers in Marikina.
Questions & Answers
Q.What is the planned total number of SM Simply Shoes outlets by the end of next year?
What is the planned total number of SM Simply Shoes outlets by the end of next year?
SM Simply Shoes aims to have a total of 100 stores across the Philippines by the end of next year. This expansion is supported by its parent retail chain, SM, to reach this ambitious target.
Q.Where does SM Simply Shoes source its products from for its stores?
Where does SM Simply Shoes source its products from for its stores?
The stock for SM Simply Shoes outlets comes from a combination of international and local manufacturers. Products are sourced from suppliers in China, and also from Filipino shoe manufacturers located in Marikina.
Q.What kind of locations does SM Simply Shoes target for its new store openings?
What kind of locations does SM Simply Shoes target for its new store openings?
SM Simply Shoes targets emerging cities and towns for its new outlets, distinguishing itself from main SM malls which serve metropolitan cities. This strategy allows it to cater to a different market segment.
Q.How many SM Simply Shoes stores are currently open, and what is the target for the end of this year?
How many SM Simply Shoes stores are currently open, and what is the target for the end of this year?
SM Simply Shoes currently operates 24 outlets, having opened its first store in September 2014. The company aims to significantly expand its presence, targeting a total of 60 stores by the end of this year.
Reader pulse
SM Simply Shoes' expansion strategy:
20,146 votes so far