The Villar Group will invest P6 billion within the next two years to expand its venture into the retail market. The group, through All Value Holdings Corp. will build 12 AllHome stores until 2016. AllHome sells building materials from floor tiles to fixtures.
The group’s retail venture is seen as a natural offshoot from its property development business.
Last year, the company opened 6 AllHome stores. The company plans to open six branches per year.
The group’s retail venture includes convenience store chain, All Day Mart and supermarket chain, All Day Supermarket
All Value is an affiliate of listed property firm Vista Land and Lifescapes Inc., both chaired by former senator Manny Villar.
The group also plans to build more malls, hotels, and condominium towers through Vista Land, and Starmalls Inc.
“We opened three All Day Mart and All Day Supermarket last year. We’re still perfecting the models, but so far, we’re seeing good results, “ Villar said.
For its convenience store All Day, Villar said that the group plans “to open 60 to 70 convenience stores” this year from its current count of 80 All Day outlets to date.
“Our first six AllHome stores performed well last year. Results are very encouraging that we decided to go full blast this year and next year,” Villar said.
AllHome is in Molino, will be in Santa Rosa, Laguna; Imus, Cavite, Las Piñas and soon Antipolo. Other outlets are in San Jose del Monte, Alabang,m San Fernando, Pampanga; Talisay, Cebu; Taguig and Muntinlupa.
The All Value chairman said the AllHome stores, starting from the newly-opened AllHome Molino, will have 7,000 to 9,000 square meters of area and costs more than P400 million to establish.
They expect the every store to break even after one to three years of operation.
“Retailing is a very competitive field. We’re game [for competition]… We want to aim high, because we’re newcomers in the segment,” Villar said.