Retail in Asia

In Sectors

SM to enter convenience store business with Alfamart

Philippine mall, banking and retail conglomerate SM Investments Corp. (SMIC) has started its foray into the local convenience store segment, a sector with heating competition given the rapid expansion of top companies and global brands.

The listed holding firm is putting up as much as four new Alfamart stores in the southern part of Metro Manila this year on top of the existing three branches as part of efforts to test the market, a top executive said on Thursday.

"Alfamart still on an experimental basis…We have three stores so far: Trece Martires, Dasmariñas and Las Piñas," SM Supermarkets president Joey Mendoza said in a briefing. "There are three to four more in the pipeline," he said.

 

(Source: philstar.com)