Retail in Asia

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Philippines SSI Group aims to open more than 900 retail stores in 2015

SSI Group, Inc., the largest specialty retailer in the Philippines, is targeting to open more than 200 stores until 2015 in line with its anticipated entry to the country’s capital market, which would bring the total number of its branch network to more than 900 stores.

The group, which includes Stores Specialists, Inc., retails 103 international brands in the country including Hermès, Prada, Gucci, Burberry, Salvatore Ferragamo, Lacoste, Michael Kors, Kate Spade, Gap, Old Navy, Zara, Marks and Spencer among others. As of end of June 2014, the group already has 655 retail locations in 68 malls throughout the country.

In its prospectus submitted to the Securities and Exchange Commission (SEC), SSI Group said it is targeting to open as much as 188 stores this year, 67 of which were already opened as of 30 June, and another up to 115 new stores in 2015 alone.

(Source: Manila Bulletin)