Plans to open as much as 500 stores by 2020, set to open first store this year.
Japanese convenience store Lawson has found a partner in Puregold Price Club, Inc. (PPCI) to launch the noted Japanese konbini to the Philippine market.
According to the disclosure filed to the Philippine Stock Exchange, PPCI has tied-up with Lawson Asia-Pacific Inc. and Lawson Inc. to operate a joint-venture which will allow the operation of the convenience-store chain in the country.
PPCI will take the majority (70 percent) of the venture while Lawson takes up 30 percent.
Founded by business magnate Lucio Co, PPCI is involved in the business of hypermarket and supermarket retail with its lead brand Puregold, Puregold Junior, Puregold Extra and S&R Membership Shopping.
They also have acquired the assets of Parco and Eunilaine foodmarts. As of 2013, The company owns 210 stores across the country.
Earlier, in the World Economic Forum for East Asia held last May, Lawson CEO Takeshi Niinami has expressed his interest to enter to the PH market and plans to open at least 1,000 to 2,000 stores in the coming years.
Lawson has more than 11,000 stores across Japan and its neighboring Asian countries. It also operates via joint-ventures in Indonesia and Thailand.