Hisense Philippines to open around 500 stores this year
The local unit of the China-based multinational appliance and electronics manufacturer Hisense Group is planning to open around 500 new stores in the Philippines this year as part of the company’s expansion across Asia.
Joseph Cromwell Sanchez, sales director of Hisense Philippines Inc., said in a recent interview with the Inquirer these planned stores are on top of the 90 company-owned stores already existing.
“We started our operations around March this year. We’ve had distributors before and that is why our products have been available in the market for a while. But the expansion will mean more stores owned by the company,” he said.
Sanchez said that competition in the television market is tight, but expressed confidence that his almost 20 years’ worth of experience in the business will factor into the company’s success.
“The brand itself is targeted towards the mid to high-end market. That is why we have partners here in Metro Manila and also the provincial channels to cater to both,” he said.
Hisense owns the Toshiba brand, which it acquired in 2017 from Japanese firm Toshiba Visual Solutions Corp.
Several years ago, Sanchez said that the company’s direction was to focus on developing their business in the western and other large markets, citing in particular the United States, Australia, Europe, and the Middle East.
“Now, we are expanding here in the Philippines and the rest of Asia. So, the whole focus now of the company is Asia Pacific,” said Sanchez, mentioning Malaysia, Thailand, Indonesia and Vietnam aside from the Philippines.
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