VILLAR-LED AllHome Corp. announced on Monday that it opened its newest branch in Vista Mall Davao, bringing its total store network to 58 locations nationwide.
“We are excited to open an additional AllHome location in a rising urban location in Davao City,” AllHome Chairman Manuel B. Villar, Jr. said in a statement.
He said the new branch is a “demonstration of capability to leverage our synergies” with the Villar group’s housing arm as well as the retail ecosystem of AllValue Holdings, Inc.
AllHome said it is targeting to have a total of 100 stores by 2026 and that aims to expand further in the Greater Manila Area.
“We are confident that this is achievable, given the Villar Group’s nationwide presence with a ready captive market as initial customer base,” Mr. Villar said.
Apart from Davao, other locations in the immediate pipeline are located in Caloocan; Las Piñas; Muntinlupa; Bulacan; Dasmariñas, Trece Martires in Cavite; and Cebu.
AllHome Vice-Chairman Camille A. Villar said that the firm’s 58th branch shows the company’s “new-generation large format stores, one that maintains our brand of an elevated and comprehensive home shopping experience in terms of customer-facing touchpoints but also allows for increased efficiencies towards storage and product displays.”
“This new format also allows us to improve on our e-commerce fulfillment capabilities — one that I am sure our newest customers in Davao will come to appreciate and enjoy,” she added.
AllHome said it is set to add a minimum of eight new locations in 2022, which will feature “new generation” blueprint. This means it will have an optimized store footprint that requires lower capital expenditures.
“Our government continues to keep a brisk pace in downgrading restrictions towards a more normal, open economic scenario. Increasing store transaction counts, especially as reflected in the later periods of our financial year 2021 results are reflective of customers returning to our physical stores,” AllHome President and Chief Executive Officer Benjamarie Therese N. Serrano said.
“Locally, we are also very excited to introduce an elevated home shopping experience to the increasingly premiumize tastes of Davao City residents,” she added.
At the stock exchange on Monday, AllHome shares declined by 2.64% or 14 centavos to finish at P5.17. — Luisa Maria Jacinta C. Jocson