Being the second largest outsourcing hub in the country and a major source of overseas Filipino workers (OFWs), Cebu remains to be a key retail destination outside Manila. The rising purchasing power of households and employees is enticing retailers to occupy more space.
According to Business World, Robinsons Retail Holdings Inc. is relooking its business, as it faces shrinking operating margins and growing competition in low-cost space. It’s pivoting into wooing higher-spending consumers by entering into the premium grocery market and expanding foreign franchises in beauty products and pet care.
“You should put money where the money is, which is food, drugstores, hardware, and growing businesses like pets and beauty.” said Ms. Gokongwei-Pe.
In December, the company bought the local franchise for South Korean personal care and beauty products retailer, Arcova and Club Clio. They have also procured the license for Singapore’s Pet Lovers Center in October and plans to open another outlet.
Under a five-year plan targeting mid-to-high teen revenue growth, Robinsons Retail will spend between P3 billion ($59 million) and P5 billion to add 100 to 150 stores a year, according to Ms. Gokongwei-Pe. The retailer has 1,911 stores in various formats, excluding 1,960 outlets of its The Generics Pharmacy.
To keep up with this demand, Innoland offers more leasable office and retail spaces this year. In its latest project, One Montage, a grade A office building located at Archbishop Reyes Ave., Cebu City, provides vast retail spaces available for lease. The lower ground floor will consist of fast food chains while the upper ground floor and 2nd floor will compose of coffee shops and a variety of restaurants and specialty stores. The 3rd floor is set to house a myriad of service establishments.
Visit our website to know more about Montage. http://innoland.com.ph/properties/montage/
For inquiries, contact us at firstname.lastname@example.org or message us directly through 0917 301 4168 (office) and 0917 713 6574 (retail).