Sep 23, 2013
THE Villar group formed a new PIbillion company called MBV Retail Holdings Inc. to manage its convenience stores, home appliances and furnishings outlets and department stores.
Vista Land and Lifescapes Inc. chairman and former senator Manuel Villar said in an interview over the weekend MBV Retail would handle the group’s convenience store concept called All Day, home appliance and furnishings outlets under the All Home brand and department stores located in shopping malls owned by Vista Land and Starmalls Inc.
Villar said MBV Retail planned to have 100 All Day stores by the end of the year and double the outlets by 2014. All Day replaced the Finds Store, the original name of the group’s convenience store business.
He said All Day would aggressively compete with leading convenience stores in the country such as 7Eleven, Ministop and FamilyMart, which are all Japanese convenience store brands.
Villar said for All Home, the company aimed to have four small outlets this year and add four to five big stores next year. He said the company decided to put up All Home, as it provided good synergy with the residential developments of Vista Land.
He said home buyers could choose various furnishing packages in order to decorate their homes. The packages could be paid in installment. The furnishing packages would depend on the size of the house and lots.
Villar said for the department store business, the expansion would largely depend on the construction of Vista Malls and Starmalls.
MBV Retail also plans to build outlets in office buildings catering to the business process outsourcing sector, he said.
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