8 RETAIL NEWS CAPSULE PHILIPPINE RETAILING
MR . DIY Philippines Marks 500th Store Milestone Event in Panglao , Bohol
Celebrating with a Store Grand Reveal , Media Round Table , and a Spectacular Motorcade
MR . DIY Philippines celebrated a historic moment on February 16 , 2024 , with the grand reveal of its 500th store at Bellevue Pavilion , Panglao , Bohol . Among the distinguished guests were Ms . Roselle Andaya , CEO of MR . DIY Philippines , and Honorable Edgardo Arcay , Municipal Mayor of Panglao , Bohol , accompanied by his wife Mrs . Aniceta Arcay , alongside MR . DIY Philippines executives , Creador leaders , local government officials , and trade partners .
The event commenced with lively musical performances , creating an atmosphere befitting the occasion . Opening remarks were delivered by Mr . Froilan De Dios , MR . DIY CFO , followed by a warm welcome from Mayor Edgardo Arcay . Ms . Roselle Andaya then delivered a poignant speech , emphasizing MR . DIY ' s dedication to enhancing communities nationwide .
Ms . Andaya stated , " Today signifies a remarkable milestone for MR . DIY Philippines as we celebrate our 500th store . This milestone underscores our unwavering commitment to enriching homes and fostering connections within communities . We aspire not only to expand but to integrate ourselves deeply into the lives of Filipinos , offering affordable solutions for enhancing their lifestyles ."
The grand reveal featured a captivating projection of the store ' s opening on the LED screen , accompanied by traditional Hudyaka dancers , culminating in the ceremonial pressing of the grand reveal button and a toast to commemorate the occasion .
Subsequently , the event transitioned to a Media Round Table , where MR . DIY ' s journey from its inaugural store in Balagtas , Bulacan , to the 500th store in Panglao , Bohol , was showcased through various displays . A special AVP presentation highlighted the mural painting on the store ' s facade , a noteworthy feature unique to the Panglao store . The local artists behind the mural , Ms . Jhacky Aballe and Eric Catot , were duly recognized for their contribution .
Prada Group inks new joint venture for the Philippines
SSI Group has formed a joint venture with Prada Group through its subsidiary Stores Specialists , with the luxury retailer looking to expand the Italian firm ’ s presence in the Philippines .
Mr . Charles Salecina , Deputy Head of Marketing , welcomed guests and shed light on the Corporate Social Responsibility initiatives undertaken in Panglao , underscoring MR . DIY ' s commitment to community development .
The Media Round Table featured insightful discussions led by panelists including Ms . Roselle Andaya , Doug and Cheska Kramer , celebrity endorsers for MR . DIY , and Mr . Charles Salecina . Topics ranged from expansion plans to the brand ' s ethos of providing value for money and its alignment with personal values .
Ms . Andaya reiterated the company ' s commitment to expanding its footprint while maintaining its focus on offering quality products and exciting promotions to customers .
Mr . Salecina elaborated on the theme " 500 Stores Strong : Improving homes , Connecting hearts ," emphasizing MR . DIY ' s role in enhancing homes and fostering community bonds .
The event concluded with the announcement of winners from the MR . DIY Holi-DIY contest , with lucky attendees receiving exciting prizes . A highlight of the celebration was a vibrant motorcade around Panglao , Bohol , featuring the MR . DIY float , local organizations , and the charismatic presence of Doug and Cheska Kramer .
MR . DIY Philippines ' 500th store milestone in Panglao , Bohol , encapsulated the brand ' s dedication to enriching lives and fostering meaningful connections nationwide .
The joint venture , named “ Prada Philippines ,” will see initial investments of PHP 16.6 billion and PHP 25 billion from SSI Group and Prada Group , respectively . Upon completion , the total investment in Prada Philippines would be PHP 152 billion and PHP 228 billion .
Prada Group and Stores Specialists will own 60 % and 40 % of Prada Philippines , respectively , under the terms of the arrangement . According to a filing on the Philippine Stock Exchange , the joint venture would start in early 2024 .
“ The joint venture is expected to accelerate the growth of the Prada brand in the Philippines and enable operating efficiencies , as SSI and Prada transition from a franchisee-franchisor relationship to joint venture partners ,” the company said in a statement .
Based in the Philippines , SSI Group currently operates a portfolio of luxury brands in the Asian market including Balenciaga , Boss , Bottega Veneta , Cartier , Loewe and Alexander McQueen .
Source : www . apparelresources . com , 01 / 03 / 24