Malaysian retail specialist Valiram Group is looking at expanding its operations in the Philippines by developing airport outlets for duty-free retail tourism.
Valiram Group officials met with President Ferdinand R. Marcos Jr. in Singapore on Saturday, saying that the Malaysian group is looking at expanding in the next five years with the Philippines on their list.
“We are looking to bringing the success that we have in Southeast Asia, outside the Philippines, and into the Philippines. You know, we now have a net worth of over 500 stores. And some brands are not yet represented in the Philippines and so we’ve been working hard and with everyone’s support and guidance, we’re looking forward to expanding very quickly,” a Valiram official told the President during the meeting.
“Things like… complementing Victoria’s Secret, Bath and Body Works, and some of our partners’ work in Southeast Asia have expressed interest. Their business is small, currently in the Philippines. And they want to see if we can help us over there and try and amplify them in the local market.”
Among Valiram’s development priorities include having duty-free access at the airports. The company is building more airport walk-through stores personalized to provide customers with a pleasant shopping experience.
The official said they want to bring customer experience to another level, especially by giving them more space at the nation’s gateways, removing the stress and hassles of security checks.
“This is what you need: you need space. Almost a singular operator that can deliver a world-class experience. And this is why we’ve been very successful in Malaysia. It was very fragmented,” the official said.
“I think you need to have these pockets of spaces that are dedicated for luxury travel retail, and you can have all the categories, whether its fragrance, cosmetics, tobacco, you know, fashion and accessories. Watches is also a big business in airports as well.”
The President acknowledged that retail business is a significant part of today’s economy and in the case of Valiram, of the tourism industry.
“It’s an important sector of the economy. It’s what’s driving the economy now, it’s consumer spending. I always say this: not all Filipinos are Ilocanos. Ilocanos don’t spend,” Marcos said with a jest.
Meanwhile, Speaker Martin Romualdez expressed his support to the President’s thrust to encourage more investors to come to the Philippines, noting that Congress is focusing on crafting legislation or laws that govern the treatment and the appreciation of foreign investments into the country.
Romualdez said Congress is moving under his leadership by streamlining those laws.
“And we are also looking at the totality of the body of laws and looking at older, or laws that are either obsolete or archaic, or ‘yung mga sinasabing hindi na bagay na panahon na nag encourage tayo ng foreign investments at hahanapin natin ng paraan to amend, na babaguhin natin para mas magiging open ang bansa sa foreign direct investments,” he said.
“So, gagawin nating lahat. Ayon nga sa ginawa natin sa Foreign Investments Act at sa details to open up the economy for foreign direct investments.”
And on the President’s business meetings with Dyson Group and the Valiram Group, the House leader said Marcos welcomes and supports all of these initiatives.
Established in 1935 in Kuala Lumpur, Malaysia, Valiram is Southeast Asia’s leading luxury goods and retail specialist with a presence in Malaysia, Singapore, Indonesia, Australia, the Philippines, Thailand, Hong Kong, Macau and Vietnam.
Operating more than 350 stores, a number which continues to grow, the group represents more than 200 brands across various categories, from fashion and accessories, timepieces and jewelry, perfume, and cosmetics to confectionery and dining concepts. *PND*
