Alfamart set to open up to 120 stores in Philippines

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(Source: Retail in Asia | May 29, 2015 )

Sumber Alfaria Trijaya, the operator of the Alfamart convenience store chain, plans to open between 100 and 120 new stores in the Philippines through its subsidiary Alfamart Retail Asia, as part of the company’s regional expansion plan.

The company has estimated the new stores will cost IDR50 billion (USD3.8 million) and has secured a loan from banks in the Philippines to fund the investment.

Sumber Alfaria Trijaya plans to open 1,200 stores in Indonesia this year, and has set aside IDR 2 trillion from its internal cash fund for the expansion.