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SSI Group to Add 130 Stores This Year

24 Mar

BY ANGPING & ASSOCIATES SECURITIES

SSI Group, Inc. is expanding its specialty retail and new businesses, encouraged by the increasing disposable income of Filipinos and the development of new shopping malls.

This translate to an additional 21,000 square meters of new retail space this year and expanding its selling area by at least 16,000 square meters next year.

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SSI embarked on an unprecedented expansion program in the last three years that saw the company add 64,000 square meters of retail space to its portfolio, 36,000 square meters of which came on stream last year.

Prior to 2012, SSI only added 5,000 square meters or less to its retail space annually.

The expansion program until 2016 does not take into account future brand acquisitions.

SSI is in talks to bring three to four new fashion accessories brands to the Philippines before yearend or early next year.

FamilyMart hopes to close the year with 150-160 stores after ending 2014 with a network of 90 stores.

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It launched its 100th store last February 28, nearly two years since it opened its first store in April 2013.

FamilyMart had targeted to open 500 stores in the Philippines by 2018.

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Posted by on March 24, 2015 in Corporate News, SSI, Stock Market

 

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