Sainsbury’s eyes Philippines
British supermarket chain Sainsbury’s plans to expand to the Philippines as part of an Asian push.
Executive advisor to Sainsbury’s Ian Wade said he will recommend to the company’s board to consider expansion into the Philippines.
He says the Philippines offers more now than ever as its middle class and purchasing power are growing much more quickly than before.
“The spending power is growing and (companies like) SM probably need some competition,” said Wade.
Should the planned expansion push through, the Philippines would be Sainsbury’s second Asian market after its planned expansion to China where it is currently in talks with a potential partner and hopes to seal a deal this year.
With 144 years of history, Sainsbury’s operates 1106 supermarkets and convenience stores in the UK.