Image via WikipediaThe Rustan’s group of the Tantoco family is reaching out to a bigger market by expanding its middle-market Shopwise store network outside Metro Manila by with the planned opening of at least four stores at a cost of over P1 billion.
Shopwise president Bienvenido Tantoco III said the firm wants to devote its internal cash to the development of new stores. He said each store will cost P250 million to P350 million to build.
"This year, we got two and then we've signed deals for two that we will develop next year but we'd like to do more. Aside from Shopwise, we feel there is opportunity for Rustan’s Fresh and also Rustan’s Express,” Tantoco said.
He explained that “now we are multi-format. Shopwise is for middle class Rustans Fresh is for upper middle to affluent. And Rustan’s Express is for working class. We want to expand towards those three types of customers using the three formats"
No comments:
Post a Comment