Metro Retail Stores to invest $319m to double store count

9 May 2016 (Last Updated May 9th, 2016 18:30)

Philippines-based Metro Retail Stores Group has plans to invest PHP15bn ($319m) to double its store count over the next five years.

Philippines-based Metro Retail Stores Group has plans to invest PHP15bn ($319m) to double its store count over the next five years.

As part of the expansion strategy, it aims to increase its existing 400,000m² gross floor area and enhance its logistics and supply chain.

MRSGI chairman and CEO Frank S Gaisano was quoted by Inquirer.net as saying: "We aim to build on our gains and bring our best-in-class products and services to more areas underserved by modern retail."

"We aim to build on our gains and bring our best-in-class products and services to more areas underserved by modern retail."

The firm recently opened its 48th outlet at the UP Town Center in Quezon City.

The retailer currently has 11 department stores, and plans to open a unit at Fairview Terraces Mall.

This is a part of MRSGI's acquisition of assets from SIAL Specialty Retailers, which is a joint venture between Store Specialists and Ayala Land (ALI), reported the website.

Metro has also formed a strategic alliance with ALI to open stores in four new commercial developments.