Manila
Philippine economy grows 5.9pc in 2Q
The Philippine economy grew by 5.9 percent in the second quarter of 2012 largely due to a strong services sector, the government said on Thursday.
Fast Retailing to open 49 Uniqlo stores in Greater Manila area
Fast Retailing is to open 49 Uniqlo stores in the Greater Manila area in the Philipine over the next three years. The details came as the fashion group opened its first store in the country's Mall of Asia in Pasay City.
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CEO Talking Shop: Big dreams come from small ideas – Wilcon building its retail kingdom with strong visions
Wilcon Builder's Supply, the leading building material supplier in the Philippines, has been established for more than three decades since its first hardware shop opening on Quezon Avenue in Manila in 1977. Today, the company has more than 20 outlets under three different brands, spreading across the country. Rosemarie Bosch Ong, EVP-chief operating officer of Wilcon Builders Depot/Supply Inc., tells Retail in Asia about the company's successful story, revealing how small ideas can make big dreams come true.
Philippines' JFC acquires Chinese food chain Guangxi San Pin Wang
Jollibee Foods Corporation (JFC), through wholly owned unit Jollibee Worldwide Pte. Ltd., has completed its acquisition of 55 percent of Guangxi San Pin Wang Food and Beverage Management Company Limited which will entail a CNY40-million (USD6.32m) investment.
In a disclosure to the Philippine Stock Exchange, Jollibee said its investment in South China will be done through its joint venture with Guangzi Zong Kai Food and Beverage Investment Company Limited (GZK).
Uniqlo to enter Philippine market
The Philippines' largest conglomerate PSM Retail has agreed on a basic framework for establishing a joint venture company with Fast Retailing through its subsidiary Market Watch Investment Corporation.
Based on this agreement, the new joint venture company will be established in the Philippines in the year end of 2011, with the first Uniqlo store to open in Manila during the following business year in 2012.
Philippines Sep inflation rate inches up to 4.8pc
The Philippines' inflation rate inched up to 4.8 percent in September based on the new 2006 data series that the National Statistics Office (NSO) began releasing in July, compared with 4.7 percent in August.
The NSO attributed this to the higher annual increases in the prices of clothing and footwear; housing, water, electricity, gas and other fuels.
Higher prices were also noted in health, transport, and recreation and culture in September. Inflation rate a year ago was 3.9 percent.
Europe's store sends buyers to Manila
Europe's top department store chain is sending two of its export buyers to Manila to check out the best that the Philippines can offer, the Center for International Trade Expositions and Missions (CITEM) said.
Rosvi C. Gaetos, CITEM executive director, said the buying mission followed after a sales mission in Spain where she met with the top executives of El Corte Ingles, Europe's leading international department store chain.
San Miguel Foods joins AgriLink in the Philippines
Agribusiness firms that implement integrated and sustainable inputs to their production systems can access quality-driven and lucrative markets.
This is continuously demonstrated by Southeast Asia's largest food, beverage and manufacturing company San Miguel Foods, Inc. (SMFI), which has once again partnered with the Foundation for Resource Linkage and Development (FRLD) for this year's largest trade fair on the interdependent industries of agriculture, food and aquaculture - AgriLink, FoodLink and AquaLink 2011, happening on 6-8 October at World Trade Center, Manila.
Japan's Wacoal offers new product in the Philippines
Japan's leading lingerie brand, Wacoal, recently unveiled its premium and shapewear bridal lingerie collection during the launch of InFlight magazine’s “Walk the Isle” wedding fair held at Sofitel Philippines Plaza Manila in Pasay City, the Philippines.
The Philippine Wacoal Corp. is a joint venture between Filipino-owned company and Wacoal Corp. of Japan. Currently, Philippine Wacoal Corp. is 100-percent foreign owned by Wacoal International Hong Kong Co. Ltd. and Van Yu Holdings Inc.
Ellesse to launch in Philippines this Oct
Ellesse is opening its first Philippine store next month in the 61,000-square-meter, Ayala-run Abreeza Mall, which opened in May. If any, the Davao opening may be an indicator of an economy that is no longer centered in Manila.
It will officially launch in the country in October. Stores are planned at Ayala Town Center in Muntinlupa City in December and Bonifacio High Street in March. Rockwell and EDSA Shangri-la Mall are also in the works.
