THE Villar Group is seeking to list its home-retailing arm that operates the All Home stores in three years, as the company continues to expand its branches in Luzon.
Former Senator and Chairman of publicly listed Vista Land and Lifescapes Inc. Manuel Villar told reporters that All Home plans to launch four more branches this year and expand its two existing ones on continued demand.
“Five years is too long [for an initial public offering]. I’m rushing it to three years but by then, we have already 30 to 40 stores,” Villar said at the sidelines of the opening of its eighth branch in Santa Rosa, Laguna, the company’s biggest store to date at 10,500 square meters of floor area.
Villar said that All Home, which he also chairs, plans to open four more stores this year, and expand two existing ones.
The four new stores will open in Imus, Cavite; Las Piñas; Antipolo in Rizal; and Bataan. The company will then expand its branches in San Jose del Monte in Bulacan and in San Fernando, Pampanga. Both stores are still newly opened but Villar said an expansion is necessary due to high demand.
“Every store that we open is better than previous months,” he said.
During the next years, there will be an average of six to eight branches of All Home that will open in the country, which may include those in the Visayas and Mindanao, Villar said.
Average cost for each store is between P400 million and P500 million, which included the inventory cost of about P200 million, depending on the size of the store.
All Home has an average floor size of 7,000 square meters to more than 10,000 square meters. The stores can be expanded up to 12,000 square meters.
Villar said there has been an economic boom in the country during the last five years, as many homeowners and construction firms are upgrading their facilities.
“So our timing is just great. And in the next five years, we will be ramping up the establishment of more All Home stores,” Villar said.
He said All Home’s strategy is to become a one-stop shop for the needs of both home owners and builders.