LISTED retailer Puregold Price Club Inc. is bullish on meeting its target of putting up 50 Lawson stores this year as part of its campaign to beef up its convenience store business.
John Marson Hao, Puregold vice president for investor relations, said they are confident that the company could meet the target.
“For 2015, we would like to open 50 Lawson stores initially in Metro Manila. We are confident of hitting the target,” Hao told reporters in a briefing.
Two Lawson stores have already been opened by the company in an urban residential area in the cities of Pasig and Manila.
The Lawson stores are being operated by PG Lawson Inc., the joint venture company between Lucio Co-controlled Puregold and Lawson Asia Pacific Inc.
Hao also said that PG Lawson is targeting to roll out 500 convenience stores across the country by 2020.
The first store would have a size of about 120 square meters at a cost of about P5 million to P6 million.
Under the partnership, Lawson will provide its expertise in convenience stores know-how and product development, while Puregold will provide its expertise in product procurement and localized knowledge of the retail consumers.
Apart from the Lawson stores, Puregold also targets to put up 10 ‘Ayala Gold’ stores in Metro Manila.
Puregold recently entered into a joint venture with Ayala Land, Inc. for putting up supermarkets under a new brand initially called ‘Ayala Gold.’
He said they intend to open the first ‘Ayala Gold’ store in July this year at the UP town center in Katipunan, Quezon City.
For Puregold stores alone, Hao said they are planning to put up 25 new stores this year to be located in the Visayas and Mindanao.
“As of the first quarter, we already opened four stores all outside Metro Manila,” said Hao.
He also said that “Aling Puring” sari-sari (variety) store members already reached 350,000 this year compared to 300,000 last year.