October 13, 2024 | 12:00am
MANILA, Philippines — The MerryMart Group of tycoon Edgar “Injap” Sia II has opened in Tarlac its largest standalone grocery, marking the 135th branch of its supermarket, with expansion in eight more on the line.
In a disclosure to the Philippine Stock Exchange, MerryMart said it opened a supermarket in Ayala Cresendo Estate in Tarlac, sprawled on 4,032 square meters of land to make it the biggest of its kind.
The newest branch also provides the group with its 135th outlet, as it aims to grow its grocery network in the provinces.
MerryMart plans to open supermarkets in Antique; Palo, Leyte; San Carlos City, Negros Occidental; and Bay, Laguna. Further, it aims its reach to cover Koronadal City, General Trias, Cavite; Ormoc City; and Ozamiz City.
Among its current network, MerryMart enjoys the largest market share in Capiz. On top of this, it is gaining consumer traction in nearby areas, positioning it to compete with leading players.
Aside from widening its footprint, MerryMart said it is always on the hunt for companies to buy for as long as they support its future growth.
“MerryMart continues its organic expansion and continues to be on the lookout for opportunities in acquiring companies in the consumer space that have strategic fit to its long-term growth,” the company said.
The newest MerryMart branch, initially slated to be opened in July, is equipped with sustainable equipment like roof solar panels, LED lighting fixtures, bicycle slots and charging provisions for electric vehicles.
MerryMart is undertaking a group-wide expansion to achieve its target of raising P150 billion in revenue in 2030. Originally, the goal was placed at just P120 billion, but the company adjusted it earlier this year.
As of 2023, MerryMart operates 126 stores nationwide. Its portfolio is composed of MerryMart Grocery, MerryMart Express and MerryMart Wholesale, together with other ventures, including Injap Supermart, M Supplies and Carlos SuperDrug.
The company may be reliant on its brick-and-mortar format, but it is also penetrating the digital space through an app launched by MerryMart Wholesale.
For 2024, MerryMart expects its e-commerce channel to grow to 500,000 users and carry 15,000 products for businesses and households.
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