By BusinessWorld
Gokongwei-led Robinsons Retail Holdings, Inc. (RRHI) said it aims to expand its presence in the drugstore segment.
“We believe there is an opportunity to increase market coverage for all our banners, as there are many municipalities and barangays in the Philippines that still lack drugstores,” said RRHI President and Chief Executive Officer Robina Y. Gokongwei-Pe during the company’s virtual annual shareholders meeting.
“Our aspiration for the drugstore segment is to simply become more accessible to our customers. By doing so, we aim to boost our market share and brand value,” she added.
RRHI has a presence in the drugstore segment through brands such as South Star Drug, TGP, and Rose Pharmacy.
Ms. Pe also said that RRHI is prepared to capitalize on potential mergers and acquisitions (M&As) in the drugstore segment that could enhance the company’s value and presence.
“In terms of major acquisitions, we are always on the lookout for value-accretive M&As. Should there be an opportunity, we will be ready to capitalize,” she added.
On RRHI’s overall store expansion, Ms. Pe stated that the company is looking to expand beyond the National Capital Region.
“With 30% of our stores located in Metro Manila, we want to accelerate our expansion outside the capital. In terms of formats, we’re looking to open more of our core supermarket and drugstore banners,” she said.
As of end-March, RRHI has 2,399 stores, including 756 food segment stores, 1,072 drugstores, 50 department stores, 224 DIY stores, and 297 specialty stores. The company also has more than 2,100 franchised stores of pharmacy-chain TGP.
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