News

McDonald’s Philippines to add 40 stores

(Source: Inside Retail Asia | March 6, 2018) Golden Arches Development Corp (GADC) is planning to invest up to PHP2 billion (US$38.4 million) so McDonald’s Philippines can open at least 40 new stores this year. Majority owned by chairman/founder Dr George Yang and his family, GADC is the master franchise holder of McDonald’s in the Philippines and has been a ...

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Central Group pegs $6 billion for expansion

(Source: Inside Retail Asia | March 6, 2018) Thailand’s Central Group plans to invest more than THB200 billion (US$6.3 billion) over the next five years on expanding its retail and hotel properties in Thailand and abroad. It is especially targeting Vietnam, where it expects its retail business to grow by four times over the period. The group aims for total ...

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FranGlobal sets up shop in Bangladesh

(Source: Inside Retail Asia | March 6, 2018) Singapore-based franchise consultancy firm FranGlobal has entered Bangladesh, announcing it will introduce more than 50 brands in the next couple of years. “This will create investment of US$39 million, as a conservative estimate,” says chairman Gaurav Marya, who has been attending the first-ever Franchise Bangladesh expo in Dhaka. International and domestic brands ...

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DoubleDragon profits surge as malls rise

(Source: Manila Bulletin | March 5, 2018) DoubleDragon Properties Corporation (DD), the joint venture between Philippine fastfood gurus Edgar “Injap” Sia II and Tony Tancaktiong, reported a 71.8 percent jump in consolidated net income to P2.53 billion last year from P1.47 billion in 2016. In a disclosure to the Philippine Stock Exchange, the firm said its recurring revenue has risen ...

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Business of happiness: How malls plan to weather e-commerce rise

(Source: ABSCBN News | February 28, 2018) A deep mall culture, wherein the giant air-conditioned structures are at the center of happy family activities, will help brick and mortar retail withstand the rise of e-commerce, industry stakeholders said. The country’s largest mall operator, SM, is “bullish” on retail, said SM Investments vice chairman Teresita Sy-Coson. The company earlier announced plans ...

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DTI to launch 37 prototypes One Town One Product

(Source: Sunstar | February 26, 2018) About 37 new prototypes of the One Town One Product (OTOP) Next Gen of the Department of Trade of Industry (DTI) is targeted to be launched this 2018 by DTI-Davao Region. According to Trade and Industry Davao assistant regional director Edwin Banquerigo, this year two Go Lokal stores will be opened up in Abreeza ...

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Jobs in demand for 2018: BPO, retail, manufacturing

(Source: ABS-CBN News | February 27, 2018) The business process outsourcing industry is poised to generate the most jobs this year, a recruitment portal said Tuesday, notwithstanding concerns over the industry’s shift to artificial intelligence. Jobs in the retail and manufacturing industries will also be in demand this year, according to Jobstreet.com. In-demand BPO specializations have expanded to finance, accounting ...

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SM, Robinsons, Rustan’s bosses among PH ‘retail icons’

(Source: ABS-CBN News | February 28, 2018) Twelve icons of retail, whose empires defined how Filipinos shop for everything from headache medicine to engagement rings, were honored by an industry group late Tuesday. The stories of the tycoons, some of whom started poor, showed how retailers can succeed and keep customers with dedicated service, notwithstanding the threat of e-commerce on ...

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Europe’s largest sports retailer lands north of Manila

(Source: ABS-CBN.com | February 22, 2018) A new player in the sports retail game announced their arrival in Manila last February 8th, as INTERSPORTS Philippines officially launched their first store in Southeast Asia at the Ayala Malls Vertis North in Quezon City, Philippines. A 500-square meter haven for every sports junkie located at the ground floor of Ayala Vertis North, ...

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Rustan Supercenters begin building first Shopwise outlet in Batangas

(Source: Business Mirror | February 20, 2018) Rustan Supercenters Inc. (RSI) officially broke ground on Tuesday for its first Shopwise outlet in Batangas as the retail chain sets its sights to expand further in Southern Luzon, particularly in the Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) area. “With the development of residential and commercial properties, plus the Grand Terminal, I ...

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