Homegrown home improvement retailers take top spot in Philippines

Local home improvement retailers in the Philippines appear to be the outlets of choice for shoppers looking for hardware products and home furnishings in the country. They outsold both specialised sellers and brands with multinational affiliations in these categories, according to the 2021 listing by BusinessWorld Publishing Corp. of the Top 1 000 Corporations in the Philippines.

The annual publication, which ranks the country's top-grossing companies, shows that home improvement company Wilcon Depot Inc. earned most among establishments engaged in "retail of hardware materials". It took a total of 23.06 bn Philippine pesos (PHP, EUR 402.9 mio), earning more than Handyman, a home improvement store that is a member of the global Do It Best network and raked in PHP 7.48 bn. It also outperformed CW Marketing and Development Corp., a local construction supplies distributor (PHP 3.818 bn), Herco Trading Inc., a hardware supplies company (PHP 2.27 bn) and True Serve Hardware Philippines, the operator of global DIY brand True Value in the country (PHP 1.95 bn).

Meanwhile, home improvement chain AllHome Corp. brought in the most revenue among companies engaged in "retail sale of home furnishing, furniture and fixtures" with earnings of PHP 12.814 bn. Casamia Furniture Center, Inc., the only other company that made the category, was a distant second with revenue of PHP 2.007 bn. Casamia is owned by the SM Group of Companies, a mall developer and retail powerhouse which also operates Ace Hardware in the Philippines.