(Source: Business World | February 25, 2019)
Wilcon Depot, Inc. is set to open eight stores this year, as it ramps up its expansion to take advantage of the growing demand for home improvement and construction supplies.
Wilcon President and Chief Executive Officer Lorraine Belo-Cincochan said the company is currently mapping out its next phase of expansion to reach its goal of having 100 stores.
“We’re thinking sana maka-100 pero inaalam pa namin kung anong year mapa-plot. We’ll average five to six (store openings) a year. This year we’ll have eight, then mag-taper off (in the next years),” Ms. Belo-Cincochan told reporters.
The listed home improvement and construction supplies retailer had set a target of 65 stores by 2020, to be funded by the proceeds from its P7-billion initial public offering back in 2017.
Wilcon ended 2018 with a total of 51 stores. This year, it has opened one in Puerto Princesa, Palawan, bringing its current store count to 52. The next store opening for the year is scheduled in April.
Ms. Belo-Cincochan said the company is looking at both new and existing markets where it can further boost its presence.
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