Wilcon Depot 100 stores by 2025 onschedule
Jun 21 2022
Wilcon Depot has indicated that it is on track to achieve its goal of opening one hundred outlets by the year 2025, despite the challenges presented by the COVID-19 outbreak. This pandemicc situation we are all into is really a big challenge for everybody.
During the annual shareholders meeting of Wilcon, which was live streamed on the Philippine Stock Exchange, Wilcon founder and chairman emeritus William Belo disclosed that the company concluded the year 2021 with 73 branches.
Wilcon Depot claims that it has recently opened ten stores, nine depots, and one smaller size store called Home Essentials. All of these establishments were supported exclusively with funds that was generated in-house.
“We remain focused on our strategic expansion plans to fulfill our aim and we are well on our way to attaining our 100-store network by the end of 2025,” he added. “As we approach our 45th year as a company in 2022, we are well on our road to attaining our 100-store network.”
“This drive is based on our belief in our market’s resiliency as well as their desire to build, improve, and enhance their houses in order to live a sustainable and pleasurable life,” he continued. “This belief is what gives us the confidence that our market will continue to thrive.”
Lorraine Belo-Cincochan, the president of Wilcon, stated that the year 2021 was a watershed moment for the company, with “all-time high” net sales of P27.5 billion, which was an increase of 21.6 percent, and a record net income of P2.56 billion, which was an increase of 77 percent.
Reaching 100 branches is really a significant milestone for Wilcon Depot. More job opportunities and will open-up better positive contribution to the economy. We support Wilcon Depot in its aim to reach 100 branches by 2025. This would mean that Wilcon Depot would be one of the leading hardware multi-product stores in the Philippines.
