LISTED construction supplies retailer Wilcon Depot, Inc. is aiming to reach 100 stores before the end of the year, a company official said.
The company opened its 91st store on Jan. 12 in Morong, Rizal, Wilcon’s Chief Operating Officer and Senior Executive Vice-President Rosemarie B. Ong said at the inaugural meeting of the Management Association of the Philippines last week.
“Barring any unforeseen events [we reach 100 stores before yearend]; we are trying to fast-track it,” she said.
“We are targeting to open eight to ten stores a year,” she added.
She also discussed Wilcon’s move to include farming and agricultural products in its offerings, supporting the company’s expansion beyond Metro Manila.
“We’re going outside Metro Manila, and then we have to address that market for them to make it accessible, especially the agricultural tools that they will use,” she said.
“It’s really more on construction for homes. But then we have to get into the market because most of the areas that we go to are agricultural areas. So to make it accessible for the farmers, especially for those in agriculture, we’re trying to expand our category into that also,” she added.
On Jan. 17, Wilcon’s board approved the amendment to its articles of incorporation to include agricultural tools and equipment, pesticides, and fertilizers to its primary purpose. It will add farming and agricultural products to the company’s product line.
The amendment is set to be presented to the company’s stockholders for approval during the annual stockholders meeting, with no scheduled date yet.
Wilcon Depot’s shares rose by five centavos or 0.23% to P22 apiece on Monday. — Revin Mikhael D. Ochave