Alfamart targets 400 stores in Philippines next year
Mini market chain Alfamart aims to increase the number of its outlets in the Philippines from the current 185 to 400 next year and add one distribution point to complement the existing one in Greater Manila.
The company expanded into the Philippines in 2014, teaming up with local company SM Investments Corporation.
"We expect to reach break-even point by the middle of 2017, after three and half years of investment," Alfa Group chairman Djoko Santoso said after an AlfaLand press conference at the Shangri-La Hotel Jakarta on Friday.
He said the business climate in the Philippines was good and processing licenses and arranging land acquisition were easy there. After 2017, the company will be more aggressive by doubling the number of its stores every year.
"After five years of investment, we want to have at least 5,000 stores in the Philippines," he said. (evi) – The Jakarta Post
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