LBC expands aggressively in Europe

MANILA, Philippines - LBC, the country’s pioneer in the cargo and remittance industry has embarked on an aggressive expansion effort to capture the growing European market and to dramatically increase its revenue in that part of the globe.

The expansion is fueled by the ever increasing number of Filipino OFW’s in the region.

To date, LBC maintains branches in Spain located in Madrid and Barcelona and just recently opened a new branch in Marbella. There are around 60,000 Filipinos in Spain composed mostly of service industry workers and domestic helpers. The business generates a modest P92-million revenue every year.

The company is excited about the opening of its Italy business unit this September. Another branch is set to open in Rome in the first quarter of 2010. There are roughly 300,000 OFWs in Italy. LBC sees the Italy business to reach the volume of Spain in just six month of opening. The company is confident that the business volume will triple by 2010.

LBC is also seriously looking into opening a branch in London by next year and is looking at the possibility of opening branches in Austria, Switzerland and Germany in the next couple of years.

To capture a bigger slice of the European market, LBC now offers a flat rate of 65 euros per balikbayan box. The promo has been very successful in generating increased sales across all countries of origin.

Compared to mostly small players in the European cargo industry, LBC is way ahead in terms of fast and reliable service, competitive pricing plus an extensive network in the Philippines. The company is the only one that offers weekly shipping of cargo and online tracking.

According to LBC regional director for Europe Miguel Vecin, “LBC Europe is a small piece of the multi-billion peso LBC empire. However, we believe that a more vigorous presence in that region can generate more than expected sales and offer professional service to our kababayans.”