Rustans Supercenter Inc. executive vice president and general manager Bienvenido Tantoco III said over the weekend the expansion plans for Shopwise is north of Manila.
"We see certain geographical areas where it’s somewhat underserved where we can put up a store in those areas," Tantoco said.
Tantoco further disclosed that they plan to put up at least three more stores. "We’re targetting opening one in the first quarter of next year."
After that, Tantoco said, they would "probably open one to two per year."
However, Tantoco explained that the stores would likely be rentals as "we don’t normally own the land," rather "we deal with the landlord."
Shopwise is allocating at least P110 million to P250 million for each new outlet.
The Rustans Group, Tantoco admitted, is focusing on building the Shopwise brand and operations.
Shopwise’s target market, Tantoco said, is the middle market.
"We’re hoping for better conditions, but of course, we’re also preparing for tough times, he admitted.<