Latest news with #Puregold
GMA Network
2 days ago
- Business
- GMA Network
Puregold to open eight more branches in Luzon, VisMin
Supermarkets chain Puregold Price Club Inc. is set to open eight more new branches across the country as it seeks to fulfill its full-year target following a strong first half performance. Puregold is eyeing new stores in Northern and Southern Luzon, and other provinces in Visayas and Mindanao. Recently, it opened a branch in Sindangan town, Zamboanga del Norte. "Our vision is to have a Puregold branch within reach for every Filipino MSME (micro, small, and medium enterprise) and every Filipino family across the country. We want to make everyday products more accessible to them through best value pricing and greater presence," Vincent Co, President of Puregold Price Club, said in a press release. By the end of June, Puregold's total store count already reached 666 Puregold Stores, 31 S&R Membership Shopping warehouses, and 67 S&R New York Style quick-service restaurants, based on its first-half disclosure. It also opened new stores last July, the supermarket said. Puregold had seen gains from its new store openings last year and in the first half of 2025, with net sales increasing to P109.87 billion as of end June, rising 11.6% from P98.5 billion in the same period last year. The increase in sales came from the full operation of 26 new Puregold stores and four new S&R Warehouses in 2024, as well as revenues from 166 new Puregold stores and one new S&R Warehouse opened so far this year. Improved sales offset the increase in operating expenses largely due to its expansion, with manpower, utilities, transport and other costs up 16.4% in the first half of the year at P14.98 billion from P12.87 billion in the same period last year. — VDV, GMA Integrated News
GMA Network
06-08-2025
- Business
- GMA Network
Puregold H1 net income up 7.1%
Listed retailer Puregold Price Club Inc. posted a 7.1% growth in its net income for the first half of the year, on the back of the double-digit growth in its net sales as basket size and foot traffic increased during the period. Purgold said its first-half net income grew to P5.299 billion from P4.949 billion, as net sales rose 11.6% to P109.877 billion, while operating expenses increased by 13.6% to P14.986 billion. '(T)he enterprise experienced positive same store sales growth (SSSG) of +6.4% from Puregold Stores driven by higher basket size and +4.7% from S&R Warehouse clubs driven by higher traffic,' the company said in a regulatory filing. Puregold president Ferdinand Vincent Co earlier this year said the company would implement an 'aggressive' store expansion strategy this year, prioritizing key provincial markets to drive continued growth to position for long-term value creation. It has allotted P1.9 billion for expansion and opened its first store in Zamboanga del Norte on July 26, its 17th new store in 2025. Eight more outlets are set to be opened within the year. Puregold ended June with 764 stores nationwide, including 666 Puregold stores, 31 S&R Membership Shopping Warehouses, and 67 S&R New York Style QSRs. Shares in the company were last trading at P40.90 apiece, up by P1.25 or 3.15% from Tuesday's finish of P39.65 per share. —VBL, GMA Integrated News
GMA Network
05-08-2025
- Business
- GMA Network
Puregold allots P1.9B for expansion, opens first store in Zamboanga del Norte
Supermarkets chain Puregold Price Club Inc. continues to expand its footprint with a nearly P2-billion budget for expansion this year. In a statement, Puregold said it earmarked a total funding of P1.9 billion to boost its store network of currently 500 branches nationwide. In line with this expansion initiative, the company opened its first store in Zamboanga del Norte on July 26, 2025. The Purgeold Zamboanga del Norte branch is the supermarket chain's 17th new store this year, 'with eight more outlets opening within the year in locations within Northern and Southern Luzon, Visayas, and Mindanao.' 'We are proud to mark our presence in Zamboanga del Norte, where we see tremendous potential for growth. More than becoming another retail player in the area, our brand has the unique opportunity to play a key role in accelerating the development of its MSME sector,' said Ferdinand Vincent Co, Puregold Price Club Inc. president. 'We believe that when small businesses thrive, the entire community benefits. This is our vision for Sindangan and all other new locations where we will open our doors this year,' said Co. –VAL, GMA Integrated News
Korea Herald
28-05-2025
- Business
- Korea Herald
Soju from shelves to tables: HiteJinro raises toast to Philippines
Targeting every retail touchpoint, HiteJinro pushes to make Korean soju staple in Filipino drinking culture MANILA, Philippines — A shared glass of liquor, known as tagay in the Philippines, has long been central to Filipino communal drinking. Yet while the drinking tradition has endured, what fills those glasses is shifting — especially among K-pop fans and spirit lovers — from familiar gin or rum to soju bearing the Jinro label from South Korea's leading soju-maker, HiteJinro. The once-exotic green bottles now have greater visibility, not only in Korean barbecue joints, but also in supermarkets, convenience stores and Filipino households. Supermarket essential In the city of Paranaque's Puregold, one of Manila's major hypermarket chains, the liquor aisle tells the story. Browsing the shelves stocked with Jinro soju bottles is Andrea, a 21-year-old Filipina consumer introduced to the world of soju through K-pop and Korean TV dramas. 'I prefer drinking soju because its taste is smoother than strong Filipino spirits, and I experience less of a hangover the next day,' she said. 'I drink soju about once or twice a week, mostly with family or while watching Korean dramas on Netflix or YouTube.' A Puregold official took note of the brand's current popularity: 'Despite its foreign origin, it has become a go-to drink for many local families.' At S&R Membership Shopping, a membership-based warehouse club, in the capital Manila, Jinro set up a small tasting booth where Erwin, a 43-year-old former bartender, sampled a shot of soju. 'There's definitely a strong sense of trust in Korean-made products in the Philippines,' he noted. 'I often drink soju when gathering with friends on weekends. With the variety of options like fruit flavors, we enjoy mixing it in different ways. 'But most of all, I like the original soju the most because it's the cleanest and smoothest.' Marie Phil Reyes, managing director at HiteJinro Philippines, explained the shifting trend, 'Fruit-flavored soju helped introduce locals to soju, and more recently, the share of regular soju consumption among locals has grown significantly.' Distribution networks Behind expanded distribution into both the Korean community and mainstream retail are local partners: Premier Wines & Spirits, which focuses on distributing soju through local channels, and K&L, which primarily supplies Korean restaurants and convenience stores. In terms of sales volume, the total comes to around 550 to 600 containers a year, with each container holding 1,260 boxes of soju, and each box consisting of 20 bottles. K&L accounts for roughly 60 percent of the market share. At K&L's office, with a warehouse stocked with 36 containers' worth of soju just next door, CEO Kang Jung-hee recounted the transformation firsthand. 'Back when the company first started 30 years ago, soju sales were minimal, with few Korean expatriates and tourists,' Kang said. 'But over time, particularly after establishing the local subsidiary, we've been able to greatly expand retail channels and step up our marketing efforts.' Embedded in local life Jinro's integration into the local market was not simply about placing bottles on shelves, as Kang noted. It was also driven by marketing campaigns to make Korean drinking culture feel like a natural part of local social life, integrated into traditions like pulutan — snacks and plates akin to tapas shared while drinking — and videoke, a portmanteau of karaoke and video, to forge deeper connections with Filipino drinkers. Events include sponsoring local K-content fan gatherings and gourmet events, while actively engaging with the nation's younger generations through a strong digital presence on social media platforms. Among the standout campaigns was the launch of Jinro Live, a local adaptation of HiteJinro's decade-old Korean live-singing series Isul Live, to bring the energy of Korean-style drinking shows to Manila's social scene. Livestreamed from a Samgyupsalamat restaurant, a Korean barbecue chain with 70 locations, the event featured Filipino hip-hop duo GY. Groups of consumers packed the two-story venue, enjoying sizzling pork belly and clinking soju glasses. 'I love how well soju pairs with samgyeopsal, and I especially enjoy it while watching sports with friends,' said Goldi, a 21-year-old customer. Another customer, Lalli, added, 'Among Korean dishes, I love samgyeopsal and tteokbokki the most — they go really well with soju.' The show, meanwhile, engaged the audience with the traditional tagay toast and flowed into drinking games, personal anecdotes and live performances. 'More than a typical drinking show, Jinro Live is content that highlights how Jinro can fit in with Philippine pop culture,' said an official from HiteJinro. 'With key themes of Korean food, soju and music in focus, we're building brand affinity and plan to continue expanding our localized marketing efforts aimed at younger generations in the Philippines.' minmin@
