MANILA, Philippines – Puregold Price Club Inc. of retail tycoon Lucio Co is stepping up its expansion in Mindanao as it turns more optimistic on business prospects under the present administration.
Puregold vice president for operations Antonio de los Santos said the company intends to accelerate store expansion in President Duterte’s home region given the expected investment boom and improving peace and order situation there.
“We plan to expand more our footprint in Mindanao. At present the areas where we are form only a small part of Mindanao,” De los Santos said in an interview during Puregold’s KAINdustriya Convention yesterday.
Of Puregold’s 266 stores nationwide, only eight are in Mindanao. These are located in Tagum, Lanang, Digos, Bukidnon, Cagayan De Oro, Butuan and Cotabato.
“We opened our second store in Cotabato, that’s in Maguindanao, last week. That’s our second in Cotabato so that means business is good in the area. We are the only big retailer in that area,” De los Santos said.
“So we want more stores in Mindanao. But what we’re looking at is not the number but the areas. What we’re looking for are right locations,” he added.
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De los Santos said potential areas for expansion in Mindanao are Iligan, Pagadian, Dipolog and Ozamis. He said these are the areas which the company sees “are ripe for a Puregold store” at present.
According to De los Santos, the current administration’s commitment to improve the peace and order situation in Mindanao is a significant help in boosting the company’s confidence to expand more in the region.