SSI Group Inc., a specialty retailer owned by the Tantoco family, said it plans to add 37,000 square meters of retail space in 2015 and 2016 to support the acquisition of new brands for expansion.
SSI Group president Anton Huang said in an interview at the sidelines of a forum sponsored by online stock brokerage firm COL Financial the company was on the final stages of negotiations to acquire three to four new international brands to be introduced in the domestic market.
The new international brands, which could be launched in the local market late this year or in the first half of 2016, are mostly involved in fashion accessories.
Huang said the SSI Group this year would add 21,000 square meters of retail stores involving 130 new stores and another 16,000 square meters of retail space in 2016.
Huang said the company remained bullish about the retail industry given the increasing consumer consumption and robust real estate expansion across the country.
Huang said the company in 2015 expanded its top line by 19 percent while sales in the fourth quarter jumped by 26 percent.
On the convenience store business, Huang said the company opened on Feb. 28 its 100th FamilyMart store in the country.
The company plans to increase its outlets to 150 to 160 this year on aggressive store expansion and franchising.
Huang said there was strong demand for franchising of FamilyMart stores after the company launching of the franchising concept last year.
“We now have 15 different franchisees and more being processed,” Huang said.
Given the aggressive rollout of FamilyMart outlets, Huang said the company was aiming to be the second biggest convenience store in the country.
FamilyMart is the third biggest player in the domestic convenience store industry, which is currently being dominated by 7-Eleven of Philippine Seven Corp. and Ministop of Robinsons Retail Holdings Inc. and Mitsubishi Corp.
