The Market Monitor Minding the Nation's Business
Construction equipment retailer Wilcon Depot Inc., which will soon be listed at the stock exchange, expressed plans to expand its market reach through online presence and setting up pop-up stores.
The company, the first home improvement and construction supply retailer to be listed on the Philippine Stock Exchange (PSE), will go public on March 31.
It is expected to raise about P6.97 billion to P7.92 billion worh of shares. It will sell 1.393 billion primary shares at an offer price range of P5 to P5.68 per share.
The net proceeds of the offer will fund its expansion activities, refinance existing debt obligations and for other general corporate purposes.
Wilcon Chief Operating Officer Rosemarie Bosch-Ong told reporters they are on the look-out for more business opportunities, such as adopting the omnichannel business model which is both online and offline interactions with consumers.
“We are looking at opportunities where we can sell through online and the customer will pick up (the items) in store. This is buy online and pick up in store,” she said.
Ong said they are also planning to set-up pop-up stores.
“These are the nutrients now in the market wherein pop-up stores are situated in high traffic areas,” she added.
Wilcon stores currently come in two formats: Wilcon Depot and mall-based Home Essentials.
“We plan to solidify our presence in existing markets and expand our footprint in fast-growing cities outside of Metro Manila by putting up more stores in the next three to five years,” said Wilcon chairman William Belo. RIZA LOZADA