No Brand standalone stores to close by June
Robinsons Retail Holdings, Inc. confirmed that it's closing its No Brand standalone outlets in the Philippines this year.
In a statement sent to PhilSTAR L!fe on Wednesday, March 25, RRHI said it will "gradually wind down operations" of all its 11 branches by the end of June.
The move, it noted, aligns with RRHI's overall strategy "and reflects its ongoing efforts to simplify its portfolio and focus on retail formats that deliver strong and sustainable returns."
According to RRHI, it's not anticipating any material impact on its financial performance from the development. "No Brand accounts for approximately 0.2% of annual net sales and constitutes a very small portion of the Company's total assets," it explained.
RRHI President and CEO Stanley Co expressed his gratitude to South Korea's Emart, which owns No Brand, for their years-long tie-up as he shared what's next for the company. "Our focus remains on meeting customer needs by providing relevant assortments in the most appropriate formats," he said. "We thank Emart for the partnership over the past several years."
RRHI and Emart brought No Brand to the Philippines in 2019 following their master franchise agreement. It offers various items such as Korean snacks, beauty products, among others, at affordable prices.
