Tag Archives: Malls

Lazada hosts SM sale as malls, online stores co-exist in Philippine

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(Source: ABS-CBN News | October 17, 2017) The country’s largest mall operator, SM, kicked off a 3-day sale on Lazada on Tuesday, illustrating what the CEO of the online marketplace says can happen when physical and online retail don’t see each other as rivals. Shopping malls have become the new city centers in the Philippines. SM has 63 outlets locally, ...

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SM Prime sees no mall saturation as 65th opens

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(Source: inquirer.net | October 11, 2017) Property giant SM Prime Holdings Inc. is opening a new shopping mall in Cagayan’s capital city of Tuguegarao, further expanding its nationwide footprint as this marks its 65th domestic retail hub. SM Center Tuguegarao Downtown, the first SM mall in Cagayan Valley, is set to open on Thursday, Oct. 12, adding 37,000 square meters ...

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DTI pushes Filipino products to markets

(Source: DTI website)

(Source: Manila Times | September 30, 2017) The Department of Trade and Industry (DTI) held a Go Lokal! event in Makati City recently to help bring local products closer to Filipinos. Go Lokal! is a free marketing avenue provided by the DTI and its retail partners for the incubation, marketing and branding of Filipino entrepreneurs’ products. “It is about new products that ...

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Filipino Billionaire Gets a Taste for E-Commerce as Alibaba Looms

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(Source: Bloomberg | September 27, 2017) Robinsons Retail Holdings Inc., one of three giants that dominate retail in the Philippines, has begun moving more of its $2.7 billion empire online. The company plans to triple the number of supermarkets that ship web orders by 2018, said Robina Gokongwei-Pe, the tycoon John Gokongwei’s daughter and company president. Other parts of the ...

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Malls in Philippines unlikely to follow US stores to extinction

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(Source: ABS-CBN News | September 25, 2017) Malls in the Philippines are unlikely to be replaced by online channels soon, as millennials seeking to spend on experiences drive demand for restaurant space, a property consultant said. Food and beverage now account for 40 percent of mall space, compared to 60 percent for retail. The sector used to account for just ...

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SM Group to sell insurance in malls

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(Source: Inside Retail Philippines | September 11, 2017) The SM group has opened up its shopping malls as a pioneering sales platform for insurance, starting with basic products like compulsory third-party liability (CTPL), travel and dengue insurance. Eventually, the plan is to broaden the offer to cover pets, motorcycles and even insurance for cancelled weddings. The group has teamed up ...

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First-half income surges 38 percent for Starmalls

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(Source: Inside Retail Philippines | August 18, 2017) Starmalls, the commercial arm of Vista Land & Lifescapes, has had a 38 percent surge in first-half net income to Php1 billion (US$19.4 million). It revenues rose by 35 percent to Php2.7 billion year on year, while EBITDA grew 43 per cent to Php1.95 billion. “We remain optimistic about the retail industry’s outlook ...

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Provincial malls lift SM Prime Q2 profit

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(Source: Business World | August 8, 2017) SM Prime Holdings, Inc. grew its earnings by 15% in the second quarter of 2017, as it starts to reap the benefits of establishing more malls in the provinces. In a statement on Monday, the holding firm for the retail and property business reported a net income of P7.79 billion, higher than the ...

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Robinsons Retail sets P4-B capex to ramp up network’s expansion

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(Source: Business World | June 28, 2017) Robinsons Retail Holdings, Inc. (RRHI) is hiking capital expenditures (capex) to ramp up the expansion of its existing formats beyond Metro Manila, as the Gokongwei-led retailer continues to pursue mergers and acquisitions to accelerate growth. During the company’s stockholders meeting, RRHI President Robina Y. Gokongwei-Pe said the multi-format retailer is shelling out P4 ...

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SM Prime Holdings hits PHP1 trillion capitalization

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(Source: Inside Retail Philippines | June 7, 2017) Property developer and shopping mall company SM Prime Holdings has become the first Philippine company to reach P1 trillion (US$20.1 billion) in market capitalization. “SM Prime acknowledges the investment community’s unwavering support. This is a great moment for us,” the Sy family-owned firm says. The historic record was reached after the family ...

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