August 22, 2024 | 12:00am
MANILA, Philippines — Gokongwei-led Robinsons Retail Holdings Inc. (RRHI) is high on the growth of its drugstore business as it continues to expand its footprint and look for potential acquisitions.
Joanne Dawn Arceo, RRHI group general manager for the drugstore segment, said the group is looking to open more stores in the second half after expanding its network to 1,082 drugstores as of end June.
The retail arm of the Gokongwei Group intends to close the year with over 1,100 drugstores nationwide, adding 50 stores in the first half and opening 50 more in the second semester.
“We ended with 1,082 for the first half of the year. So we’re looking at expanding, so around 50 more for the balance of the year. That’s for July to December. So hopefully we’re on track with that,” Arceo told The STAR.
She said the additional stores are for Southstar Drug and Rose Pharmacy only and does not include TGP.
RRHI also has over 2,100 franchised stores of TGP as of the first half.
Arceo said RRHI is also open for potential acquisitions for its drugstore business “if there are opportunities.”
RRHI said the drugstore industry in the Philippines is competitive and highly regulated.
According to the company, Southstar Drug and Rose Pharmacy primarily compete with other retail drug store chains, such as Mercury Drug and Watsons.
TGP likewise competes with Generika Drugstore and small independent pharmacies.
RRHI entered the drugstore business in 2012 when its wholly-owned subsidiaries acquired a 90 percent interest in South Star Drug Inc. (SSDI).
In May 2016, SSDI acquired 51 percent of TGP Pharma Inc., taking majority stake in TGP, the country’s largest generics drugstore chain.
SSDI in October 2020 also acquired 100 percent of Rose Pharmacy Inc., a leading drugstore chain in the Visayas and Mindanao regions.
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