MerryMart Consumer Corp. the grocery chain of tycoon Edgar “Injap” Sia II on Friday said it expects to begin its wholesale club operations in April after it completes a new logistics distribution center in Tarlac. “The MM wholesale operations are slated to commence and fully service its members by April 2021, in time for the full completion of the new modern 11,000-square meter (sq.m.) MM Logistics Distribution Center in CentralHub-Tarlac in North Luzon,” the company said.
In a disclosure to the stock exchange, MerryMart said it has started accepting membership applications for the MM Wholesale Club program, which is free for now. At present, MerryMart operates a distribution center in Laguna.
Beginning April, MerryMart said the coverage area for bulk deliveries will include Metro Manila, Pangasinan, Tarlac, Zambales, Nueva Ecija, Pampanga, Bataan, Bulacan, Rizal, Cavite, Laguna, Batangas, and Quezon. Members in the said areas can avail of free delivery for a minimum of P15,000 worth of wholesale purchases.
The distribution hub will serve both MM Wholesale Club members and the retail branches of the MerryMart Group
“The addition of this new 11,000 sq.m. modern MM Logistics Distribution Center will be an important step in supporting and increasing the expansion velocity of MerryMart’s various retail formats,” MerryMart Chairman and Edgar J. Injap Sia II said in a statement.
Membership is open to businesses and individuals. Those who sign up for membership until April 15 will receive a gift. MerryMart is a wholly-owned subsidiary of Injap Investments Inc., which also owns 35% of DoubleDragon Properties Corp.
Hannah Yulo-Luccini, CFO of MerryMart, said the MM Wholesale Club is expected to significantly increase the volume and scale of the MM Group and further increase its efficiencies and improve margins.
This will immediately expand the current market of MerryMart and address the needs of a currently underserved wholesale market with limited options in the past, she said.
Shares in MerryMart closed 5% up to P7.60 a piece on Friday.
Source: BusinessWorld; Philstar
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