LISTED information technology retailer Upson International Corp. said on Monday that it is set to open a new store in SM North Edsa in line with its store network expansion goals.
In a regulatory filing, the company said that it is set to open a new TP-Link concept store by August this year.
“TP-Link has long been known for offering a portfolio of affordable and reliable consumer and business networking products, such as hubs, routers, switches, cables, and more,” President and Chief Executive Officer Arlene Louisa T. Sy said.
“There are still a lot of product models aside from the ones that are popularly sold, and we would like to showcase those in a shopping space that is focused on their discovery,” Ms. Sy added.
As of June 30, the company owns and operates a total of 11 concept stores for Acer, HP, Brother, and Silvertec brands.
“Upson has earned a reputation for integrity and fair dealing. We are eager to collaborate with them. With our shared ambition of enabling digital transformation and deeper customer connectivity, this store will bring an expanded range of TP-Link merchandise including indoor and outdoor wireless and wired systems for small to large enterprise networks,” TP-Link Philippines Country Manager Ben Chen said.
Mr. Chen added that the new location will also feature occasional exclusive models and offers.
Upson said earlier that proceeds from its P1.65-billion maiden offering would be used for its store network expansion.
It planned to open 250 stores from 2023 to 2027, or an additional retail space of 25,000 square meters.
The company offered about 625 million common shares apart from 62.5 million common shares as an over-allotment option. The offer shares are priced at P2.40 apiece.
Meanwhile, the company announced last week that it plans to open six new Acer concept stores beginning July 2023. The company said that it would only display Acer products in the concept stores, which carry the brand’s full collection of PCs, monitors, and other devices.
On Monday, Upson shares fell by 4.23% or P0.09 to close at P2.04 each. — Adrian H. Halili