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Manila Bulletin devider Philippines devider National devider Malaysian retail specialist eyes expansion of PH operations

Malaysian retail specialist eyes expansion of PH operations

Published Sep 17, 2023 06:45 am

At A Glance

  • Marcos acknowledges that retail business is a significant part of today's economy and the tourism industry.
  • Marcos said he will direct the Department of Transportation to integrate retail tourism in developing and rehabilitating airports in the country.
  • Among Valiram's development priorities include having duty-free access at the airports.

Malaysian retail specialist Valiram Group is considering expanding its operations in the Philippines by developing airport outlets for duty-free retail tourism.

BBM VALIRAM
RETAIL TOURISM — President Marcos meets with officials of Malaysian retail specialist Valiram Group in Singapore on Sept. 16, 2023. The Malaysian firm is looking to expand its operations in the country through duty-free retail tourism. (Malacañang photo)

The Malaysian firm expressed its desire to explore the Philippine market further during its officials' meeting with President Marcos in Singapore on Saturday, Sept. 16.

Valiram's Executive Director Mukesh Valiram said they are looking at expanding in the next five years with the Philippines on their list.

"We are looking to bringing the success that we have in Southeast Asia, outside the Philippines, and into the Philippines," he said.

"We now have a net worth of over 500 stores. And some brands are not yet represented in the Philippines, so we've been working hard. With everyone's support and guidance, we're looking forward to expanding very quickly," he added.

According to the executive, brands complementing Victoria's Secret and Bath and Body Works have expressed interest.

"Their business is small, currently in the Philippines, and they want to see if we can help us over there and try and amplify them in the local market," he said.

Among Valiram's development priorities include having duty-free access at the airports. The company is building more airport walk-through stores personalized to provide customers with a pleasant shopping experience.

Valiram said they want to bring customer experience to another level, especially by giving them more space at the nation's gateways, removing the stress and hassles of security checks.

"This is what you need: you need space. Almost a singular operator that can deliver a world-class experience. And this is why we've been very successful in Malaysia. It was very fragmented," he said.

"I think you need to have these pockets of spaces dedicated to luxury travel retail, and you can have all the categories, whether it's fragrance, cosmetics, tobacco, and fashion and accessories. Watches is also a big business in airports as well," he added.

In response, President Marcos acknowledged that retail business is a significant part of today's economy and, in the case of Valiram, of the tourism industry.

He said he will direct the Department of Transportation to integrate retail tourism in developing and rehabilitating airports in the country.

Marcos arrived in Singapore on Sept. 13, his birthday, for the Milken Institute's Asia Summit 2023.

Related Tags

Bongbong Marcos invest in PH Milken Institute retail tourism Valiram Group President Marcos
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