By James A. Loyola
AllHome Corporation, the Villars’ one-stop shop home store in the Philippines, is on track to hit its store expansion program this year after opening stores in Starmall Alabang, Starmall San Jose del Monte, Bulacan and Vista Mall North Molino last October.
The firm is planning to close the year with an additional 18 stores and will add 25 more in 2020 for a total of 70 stores.
“We remain confident with our expansion program for the rest of the year,” said AllHome Chairman Manuel B. Villar Jr. in a statement.
He added that, “we are taking advantage of the underpenetrated home improvement industry in the Philippines by bringing AllHome to more locations.”
AllHome Vice Chairman Camille A. Villar said: “The Company aims to at least double its market share of 7.1 percent in the home improvement industry by next year as we increase our net selling space to at least double as well by end 2020.”
“Expansion is focused on Mega Manila for now, but the longer-term plan is to taking AllHome to the rest of the Philippines,” she revealed.
AllHome President Benjamarie Therese N. Serrano noted that, “we are not just expanding our store network but we are also increasing our customer base as we introduce a precursor to AllHome in areas where house construction is just starting, to provide more dedicated offerings and services to builders and contractors during the construction phase.”
“As soon as homebuyers start to move in, we will then expand it to a regular AllHome to cater the homeowners and home makers,” Serrano explained.
AllHome has adopted a multi-format strategy such as large mall-based, large free-standing, small specialty, and the AllBuilders.
The Company registered 293.3 percent growth in net income for the first semester of 2019 to ₱434.3 million from ₱110.4 million in the same period last year. Total revenues increased by 66.9 percent to ₱5.1 billion from ₱3.0 billion in the comparable period a year ago.
AllHome made a debut in the Philippine Stock Exchange via Initial Public Offering (IPO) last October 10, 2019.