Sep 23, 2020
THE GROUP of businessman and former senator Manuel B. Villar, Jr. is expanding its retail operations to complement its real estate venture.
Mr. Villar told reporters on Saturday that MBV Holdings Corp. — his vehicle for retail business — is looking to open more home appliance shops under the “AllHome” brand and convenience stores under the “AllDay” line.
“We are putting around four to five big AllHome formats next year — the warehouse type,” Mr. Villar said on the sidelines of the opening of Vista Mall Paseo de Andalucia in San Fernando, Pampanga.
MBV Holdings will end the year with five “smaller” AllHome shops this year, each with an area of around 3,000 square meters (sq.m.) and costing around P60 million to build, Mr. Villar said.
Bigger AllHome shops with an area of around 10,000 sq.m. cost P300 million to build. He declined to identify prospective locations for the new stores.
Mr. Villar said the company is also rebranding its Finds convenience store into a new shop called AllDay. “We are confident that we, will end the year with about 100 branches; we have 80 now,” Mr. Villar said.
“Hopefully, next year, we want to double the number under the AllDay convenience store format.” AllDay will compete with local franchises 7Eleven and Mini Stop, which dominate the convenience store market in the country.
Mr. Villar said AllDay will capitalize on the “Filipino brand and Filipino needs.” Given its flagship property business, Mr. Villar said he has “no choice” but to go into retail business.
“In the case of AllHome, I thought it would be logical to go into this business because it fits Vista Land,” he said.
“We have a lot of communities and we saw the need for this kind of stores.” Vista Land & Lifescapes, Inc., the country largest home builder, is present in 63 cities and municipalities in the country under the brands Camella, Crown Asia, and Brittany, according to the company’s Web site.
Mr. Villar said MBV Holdings is open to other retail formats, including supermarket and drugstores.
He did not rule out the possibility of listing MBV Holdings on the stock exchange once it becomes a key player in the retail market.
Mr. Villar said the company will likely increase its current Plbillion authorized capital stock next year.