Wilcon Depot, the Philippines’ biggest home improvement retail chain, is set to add two new store formats to its two existing ones in an effort to expand its reach. Wilcon disclosed that its board of directors approved the change of its trade name to reflect two new distribution channels: Bargain Center by Wilcon Depot, a format that allows the company to sell old and discontinued products at discounted prices, and Do It Wilcon, which focuses on basic tools and materials for simple housing repairs and maintenance. In the company’s perspective, it is an “opportunity to expand market share”.
Do It Wilcon will be located in community centers and malls, the company said. Meanwhile, the Facebook page for Bargain Center by Wilcon Depot shows that the standalone format has been operating since January 2020. It lists three branches as of November 2021, although the page has not had updates since then.
The two distribution channels will be in addition to Wilcon’s two existing ones -- Depot, its big box format that averages 10 000 m², and Home Essentials, a 2 000 m² shop that sells home must-haves and DIY needs and tools. Apart from the brick-and-mortar stores, Wilcon also operates an online store at shop.wilcon.com.ph
At the moment, depots contribute 97.3 per cent of the company’s sales, with Home Essentials covering the rest. The company ended 2022 with 83 stores, of which 74 were depots and nine were Home Essential stores.
It has been reported that the company plans to open 13 stores this year as part of its goal to have a network of 100 stores by 2025.