MANILA, Philippines - Competition among convenience stores is expected to heat up further as the first Lawson store in the Philippines opens next week.
PG Lawson, a joint venture between Lucio Co's Puregold Price Club and Japanese convenience store giant Lawson, said the first Lawson store will open on March 30 in Sta. Ana, Manila.
The company is planning to open 50 stores in the Philippines this year. It has set a target of opening 500 convenience stores in the Philippines by 2020.
"Under the partnership, Lawson will provide its expertise in convenient stores know-how and product development while Puregold will provide its expertise in product procurement and localized knowledge of the retail consumers," the company said.
Lawson will face stiff competition in the country, where 7-Eleven, Ministop and FamilyMart have established their presence. Japan's FamilyMart Co had expanded in the Philippines in 2012 via a joint venture with Ayala Land.
Earlier, Puregold said it will contribute 70 percent of the investment in the joint venture company, while Lawson will provide 30 percent.
In May 2014, Lawson chairman Takeshi Niinami was in Manila to attend the World Economic Forum for East Asia. He bared plans for the company's expansion in the Philippines, saying they are targeting to put up as much as 2,000 convenience stores in the long term.
“The Philippines is very strong in consumption. I am very interested in entering it,” he said in a 2014 interview with The Philippine Star.