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Puregold to open as many as 20 convenience stores under Lawson brand by January

26 Nov

Puregold Price Club Inc. (PGOLD) will start rolling out its Lawson chain of convenience stores before year-end.

“We are set to open the first 10-20 stores by end-December to early January,” Puregold president Leonardo Dayao said, noting that the stores will be located in Metro Manila.

In June, the Lucio Co-led supermarket operator teamed up with Japan’s Lawson Inc and Lawson Asia Pacific Inc for its foray into the convenience store business.

The Philippine retailer will take a 70% share while Lawson will have a 30% stake in PG Lawson Inc, the joint venture company that will build and operate convenience stores in the country.

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The partnership had indicated it would roll out 500 convenience stores by 2020.

The Philippines will be Lawson’s third market in Southeast Asia after putting up 49 stores in Indonesia and 30 stores in Thailand.

Lawson has 12,046 stores in Japan and 462 in China. Puregold’s venture into the convenience store business comes on the heels of property giant Ayala Land Inc.’s (ALI) similar move into the segment dominated by the Paternos’ 7Eleven and the Gokongweis’ MiniStop.

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SM Investments Corp. (SM) is also bringing in Alfamart, one of Indonesia’ biggest mini-market operators.

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Posted by on November 26, 2014 in Corporate News, PGOLD, Stock Market

 

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