THE Villar Group plans to open 30 to 40 AllHome stores over the next three years in preparation for an initial public offering (IPO) in 2018, business tycoon and former senator Manuel Villar Jr. said.
“In the next five years, we will be ramping up the establishment of AllHome stores. Hopefully, we can open six to eight every year nationwide,” Villar told reporters during the opening of AllHome Sta. Rosa last week.
He said his retail firm All Value Holdings Corp. is set to conduct its maiden public offering within the first three years of its five-year plan when AllHome would have expanded to 30 to 40 stores nationwide.
All Value is the Villar Group’s holding company for AllHome. AllHome is a “one-stop shop” for home-related improvements, from construction to furnishings to home decorations.
“The five-year [plan]is necessary because many [establishments]are expanding, and many are buying new houses. This prosperity that we are experiencing right now leads to more people buying homes. It’s overwhelming. I think we are expanding with good timing,” Villar said.
There are currently eight AllHome stores which are concentrated in Luzon. In the next five years, AllHome targets to have a total of 42 to 56 stores across the country.
Within the five-year plan, All Value is set to spend a maximum of P16.8 billion for the store openings, spending up to P300 million per unit, bringing its total floor area to about 360,000 square meters (sqms).
Villar said each of the AllHome units averages 9,000-9,500 sqms in area, which are expandable up to 12,000 sqms.
This year, Villar said All Value will open “four more AllHome stores” to end 2015 with 12 stores, and “will be expanding two of the eight” existing stores which are in San Jose del Monte, Bulacan and San Fernando, Pampanga — expanding the two stores from 3,000 sqms in area to about 9,000 sqms each.
The four other AllHome store openings this year will be in Imus, Cavite; Las Piñas; Antipolo, Rizal; and Bataan.
“We think we can still build in other places in the country. At least for the next five years, I think the six to eight stores target is achievable,” Villar said.
“Our suppliers have already reached more than 700 and we see them growing as they see us expanding and becoming better with every store opening,” he said.
Next year, the company will expand outside of Luzon and open AllHome units in Cagayan de Oro, Iloilo and Davao.
Retail firm All Value is an affiliate of listed property firm Vista Land and Lifescapes Inc. and commercial malls firm Starmalls Inc.
Aside from AllHome stores under All Value, the Villar Group via its ultimate parent conglomerate Fine Properties Inc. is also ramping up its business in the convenience stores arena with its All Day store chain.