Cebu-based retail chain expands, opens second branch in Leyte province

Business World

TACLOBAN -- Cebu-based retail chain Prince Warehouse Club will soon open its second branch in Leyte province in a bid to strengthen its hold on the Visayas region’s expanding retail sector.

Hilongos town Mayor Jose Emery F. Roble said in an interview Prince Warehouse Club President and Chief Executive Officer Robert L. Go had signified his interest in opening a department store and supermarket in Hilongos early next year.

“We will allow Prince Warehouse Club to develop the old public market area into a mall and operate it for a certain period depending on the agreement that will be reached. Mr. Go has already visited the area and found it viable for a department store,” Mr. Roble told BusinessWorld.

Mr. Roble projected an increase in rental revenues from the old public market if the plan to convert it into a department store and supermarket is realized.

“The municipality only collects P10,000 daily from the market stalls. If that would be turned over to Prince Warehouse Club, I am sure we will increase our collections and that is fixed [revenue]. The stallholders will be transferred to the new market site just within the town’s center,” Mr. Roble explained.

The local government unit expects to collect P100,000 per month when Prince Warehouse Club goes into full commercial operations.

The proposed development of Prince Warehouse Club will include a parking space, specialty stores, the department store, and a food court. Low-end tiangge and food stalls will also be accommodated in the department store.

Prince Warehouse Club opened its first branch in Leyte, in the town of Baybay, last month. The retail chain aims to leverage on its strong support from the C, D and E markets in the western part of Leyte province.

Prince Warehouse Club has a total of nine branches all over Cebu province and carries everyday products that households need -- from grocery items to general merchandise, house wares, school supplies, garments, fashion accessories, and even furniture.

“Their presence will boost our micro industries since they support sari-sari store owners. Through its R&J 7 Credit Corp., small store owners are assured of capital for their business,” Mr. Roble said.

R&J 7 Credit is part of the company’s corporate social responsibility program. It extends credit lines to sari-sari stores through its membership network in Prince Warehouse Club by providing goods equivalent to the borrower’s total credit amount approved. -- R. L. Arinto