AllHome Corp., the home improvement store of the Villar Group, announced Monday the opening of a new outlet in Davao City..
AllHome said in a disclosure to the stock exchange Monday the opening of Vista Mall Davao boosted the group’s store network to 58.
“We are excited to open an additional AllHome location in a rising urban location in Davao City,” said AllHome chairman Manuel Villar, Jr.
“This newest branch is demonstration of capability to leverage our synergies with the Villar Group’s housing arm as well as the AllValue retail ecosystem—as can be seen in our location in an established community through our existing Vista Land communities in the area, as well as the newest AllValue offering housed in Vista Mall Davao,” he added.
Villar expressed confidence the company would achieve its target of 100 stores by 2026.
The company has identified future store sites, mainly located in key cities in the National Capital Region, including Caloocan, Las Piñas and Muntinlupa; Bulacan; Dasmariñas, General Mariano Alvarez and Trece Martires in Cavite; and Cebu.
“We are confident that this is achievable, given the Villar Group’s nationwide presence with ready captive market as initial customer base,” Villar said.
The group plans to open eight new stores across the country this year. These new stores will feature a “new-generation” blueprint, with an optimized net selling area of between 7,000 and 8,000 square meters, and require lower capital expenditure.
Meanwhile AllHome president and chief executive Benjamin Therese Serrano is optimistic about the company’s strategies for 2022 given the easing of mobility restrictions across the country
“Our government continues to keep a brisk pace in downgrading restrictions towards a more normal, open economic scenario. Increasing store transaction counts, especially as reflected in the later periods of our FY 2021 results are reflective of customers returning to our physical stores,” Serrano said.
He said the company would continue to harness the synergies between and among the Villar Group of companies to unlock the broader revenue potentials of AllHome.