Cebu-based retailer Metro Retail Stores Group Inc. plans to double its retail footprint in the next five years to further cement its position as one of the country’s leading retail players.
Metro Retail chairman and chief executive officer Frank Gaisano said in a statement the company aimed to double its current gross floor area of approximately 400,000 square meters and beef up logistics and supply facilities.
“We aim to build on our gains and bring our best-in-class products and services to more areas underserved by modern retail,” Gaisano said.
The company recently opened its 48th outlet in UP Town Center in Quezon City, bringing the total network to 11.
Another department store is also set to open in Fairview Terraces Mall, part of Metro Retail’s acquisition of assets from SIAL Specialty Retailers Inc., a joint venture between Ayala Land Inc. and Store Specialists Inc.
“We look to these exciting opportunities on the horizon, as our readiness to expand is underpinned by our strong financial performance last year,” said Gaisano.