MerryMart Consumer Corp. is opening its first market-format store at Quezon City on Saturday (Oct.24), becoming the 17th branch of the MerryMart Group.
MerryMart Market will offer seafood, fruit, vegetables, medicine, gourmet and personal care products, the company said in a disclosure to the stock exchange on Friday.
The market is located at the ArtonStrip by Rockwell along Katipunan Avenue, Quezon City.
MerryMart plans to expand to 17 stores by December, then 100 branches by end-2021. After opening its first store in 2019, the company set a target of 1,200 branches by 2030 to generate P120 billion in systemwide sales revenues.
“We believe this new MerryMart Market format will fulfill the needs of select retail trade areas,” MerryMart Chairman Edgar “Injap” J. Sia II said.
“The MerryMart team will continue to calibrate and innovate as it pursues to serve and delight the evolving retail consumers in the Philippines.”
The listed firm’s other retail formats include the MerryMart Store and MerryMart Grocery, along with the online “dark grocery.” A MerryMart subsidiary and Food Panda Philippines last month announced their online grocery service.
The MerryMart Store is the group’s household essential store, combining mini-grocery, pharmacy, and personal care sections.
Shares in MerryMart at the stock exchange grew 8 centavos or 2.48% to P3.31 apiece on Friday. — Jenina P. Ibañez