Henry Sy wants stronger foothold in C-store industry
SM Retail is opening 120 to 140 Alfamart stores this year as part of plans to double its current network.
Alfamart, a joint venture between the SM Group of retail tycoon Henry Sy and Alfamart Indonesia, offers basic groceries, foods, medicines and convenience foods 24 hours a day.
The group is looking at opening an average of 10 to 12 Alfamart stores per month or a total of 120 to 140 stores this year.
At present, the company has 210 Alfamart stores in Metro Manila and in Southern Luzon.
Alfamart is a franchised chain of convenience stores from Indonesia, with over 10,000 stores across Southeast Asia.