SSI Group adding 175 retail outlets
SSI Group Inc. said in an initial public offering prospectus filed with the Securities and Exchange Commission it would open two additional Wellworth Department stores in UP Town Center in Quezon City and Nuvali, Alabang next year, in partnership with developer Ayala Land Inc.
The two new department stores will have an average gross floor area of 6,500 square meters to 8,500 square meters. The company’s first Wellworth Department store opened at Fairview Terraces shopping mall of Ayala Land. The additional two stores will increase the company’s total selling space to 27,000 square meters.
SSI Group, in a joint venture with Ayala Land, FamilyMart Co. Ltd. and Itochu Corp. of Japan, said it also planned to roll out 150 to 175 FamilyMart stores in 2015.
The company said it was on the track with the target to open 110 FamilyMart stores in 2014. The group had 46 stores as of June.
“We believe that our ‘FamilyMart’ stores are differentiated from the average convenience store by enhanced shop designs and feel that we provide a customer shopping experience which offers much more than a grab-and-go stop for everyday sales,” SSI Group said.
source: manilastandardtoday.com
