Vol. XXI, No. 161 [ Business World Online ]
Monday, March 17, 2008 | MANILA, PHILIPPINES
CEBU CITY — Vicsal Development Corp. will open early next year its seventh Metro Gaisano store with a supermarket at the new Ayala mall in Angeles, Pampanga.
Edward S. Gaisano, vice-president of Vicsal, said the Metro Gaisano outlet will be the mall’s anchor store. The mall is part of a 46-hectare residential and mall development project by Ayala Land, Inc. in Angeles.
Other Metro Gaisano stores are also being planned, both in and outside Ayala malls, but Mr. Gaisano said he would rather not discuss these projects prematurely.
"We’re talking with them (Ayala), but you know, Ayala doesn’t open a mall every year. So we’re looking around but I would rather not talk about it," Mr. Gaisano said.
There are six Metro Gaisano stores — three in Cebu, one in Lucena, one in Legazpi and one in Taguig, Metro Manila. One of the three stores in Cebu and the outlet in Taguig are anchor stores of Ayala malls while the outlets in Lucena and Legazpi are anchor stores of Pacific Mall by Landco Pacific Corp.
Mr. Gaisano said the appreciation of the peso has slowed down growth because overseas Filipino workers and their relatives form a big part of the customer base. "We’re still growing but it could have been better," he said. — M.S. Villamor
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