More Toby’s, urbanAthletics stores rising this year

Retail firm Quorum International Inc., known for the popular store brands Toby’s Sports and urbanAthletics, is planning to build at least four new stores this year to further bolster its presence in the country amid the rising trend of “athleisure.”

Quorum International chair Roberto Claudio said last week that they will open two new stores within Metro Manila and another two outside the metropolis, investing about P5 million to P8 million per outlet.

“The retail business is growing. We just recently opened our [stores in the chartered cities of] Cabanatuan and Tuguegarao,” Claudio told reporters during a chance interview in Makati.

Claudio said that, so far, they have around 70 stores spread across the Philippines.

He added that they are seeing the most growth in their urbanAthletics stores, noting the growing demand from their younger target demographics.

“We are looking at an increase of our revenues by 15 to 20 percent,” he said, adding that the top line runs in the billions of pesos.

When asked what is driving up the demand for their athleisure products, Claudio said that people have become more conscious of their health since the pandemic. “So, there is really a consciousness and effort to engage in sports.”

“The trend of dressing down also continues to be a contributing trend,” Claudio said.

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This developed as retail prices in Metro Manila last June grew by 1.8 percent, according to preliminary data from Philippine Statistics Authority (PSA).

Growth last June was lower than the 2 percent recorded in the preceding month and the 4.4 percent growth in June 2023.

For the first semester, the increase in retail prices across the National Capital Region averaged 2.1 percent. INQ