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Metro Retail to spend $319m to double store count in next five years

RBR Staff Writer Published 10 May 2016

Philippines-based department store chain Metro Retail Stores Group (MRSGI) is planning to double its store count in the next five years with an investment of PHP15bn ($319m).

Metro Retail

Under the expansion plan, the company aims to double its current gross floor area of around 400,000m2 and improve logistics and supply chain.

MRSGI chairman and CEO Frank S. Gaisano was quoted by Inquirer.net as saying: "We aim to build on our gains and bring our best-in-class products and services to more areas underserved by modern retail."

Recently, the company opened its 48th store at the UP Town Center in Quezon City, Phillipines. The total department store count of the retailer now stands at 11.

The company is planning to open another department store at Fairview Terraces Mall, as part of MRSGI's acquisition of department store assets from SIAL Specialty Retailers, a joint venture between Ayala Land (ALI) and Store Specialists Inc. (SSI), reported the publication.

Metro has also entered into a strategic alliance with ALI to set up stores in four new Ayala commercial developments.

These would include a department store and supermarket in Capitol Central in Bacolod City, Negros Occidental; a supermarket in the Shops at Atria in Mandurriao, Iloilo City; a supermarket in Central Bloc in Cebu City; and a department store and supermarket in the Ayala Malls Feliz in Pasig City.

Gaisano said:"We look to these exciting opportunities on the horizon, as our readiness to expand is underpinned by our strong financial performance last year.

Gaisano was quoted by philstar.com as saying:"These strategic initiatives will allow MRSGI not only to achieve our financial goals, accelerate growth and increase operational efficiency but more importantly elevate the quality of service we provide to our loyal customers."


Image: Metro Retail plans store expansion. Photo: Courtesy of Ambro/FreeDigitalPhotos.net.