Wilcon Depot on track to 100 outlets by 2025

MANILA, Philippines — Wilcon Depot Inc., the country’s leading home and finishing construction supply retailer, said it is on track to reaching its target of 100 stores by the end of 2025.

“We are well on our way to reaching our 100-strong store network by the end of 2025. As we enter our 45th year, we continue to focus on our strategic growth plans to fulfill our mission,” Wilcon CEO and president Lorraine Belo-Cincochan said during the company’s annual stockholders’ meeting.

She said the company ended 2021 with 73 branches.

“This thrust is anchored on our confidence in our market’s resiliency and that their desire to build, improve and refine their homes for a sustainable and comfortable life remains unchanged,” Belo-Cincochan said.

Wilcon has opened 10 stores, nine depots and one smaller format, Home Essentials, funded mostly with internally generated funds.

Belo-Cincochan said 2021 was a record year in terms of revenues and income. Net sales hit P27.5 billion as net income jumped 77 percent to P2.56 billion, the highest ever for the company.

Aside from committing to meet its store network expansion target, Belo-Cincohan also said the company would continue to focus on margin improvements through product mix strategies.

William Belo, founder and chairman emeritus of Wilcon Depot, said the year 2021 was not without its own challenges.

“The pandemic raged on, and the country was again placed in long periods of quarantine and mobility restrictions,” Belo said.

He said the company was able to adapt to the new operating realities, which enabled Wilcon to turn in a stellar performance for the year.