PHILIPPINE FASHION retailer Golden ABC, Inc. plans to open 50 to 80 stores next yr across its six brands, reflecting confidence within the retail sector and Filipino consumers despite expectations of tempered demand throughout the Christmas season.
“In fact, we proceed to be hopeful,” Chief Executive Officer Alice T. Liu told reporters on Monday. “Filipinos are generally optimistic. In business, you may never pause; you may have to proceed growing. For those who don’t grow, you regress.”
The expansion will span Penshoppe, OXGN, Forme, Memo, Regatta, and BOCU, with the corporate requiring barely over P100 million in capital to support store openings, depending on mall developments. Golden ABC is ready to shut 2025 with greater than 1,000 stores nationwide.
Ms. Liu said the corporate is taking an agile approach to align with mall openings and market conditions. “We’d like to have the opportunity to position well with them… and react depending on circumstances.”
Despite its optimism for growth, Golden ABC expects a more cautious holiday shopping season this yr. Ms. Liu said consumers might spend more consciously, although Filipinos “never really cancel Christmas.”
Retailers have seen early signs of holiday spending as government bonuses were released in mid-November. “There’s money within the bank… We just have to lift the mood so people feel there’s something to have a good time,” she said.
The planned expansion comes amid broader optimism for the Philippine retail industry, whilst economists note potential headwinds from cautious consumer sentiment. Golden ABC’s technique to expand its footprint reflects a bet on sustained domestic demand, particularly amongst younger shoppers. — Justin Irish D. Tabile