Despite a slowdown in 2023, Lorraine Belo-Cincochan, president of Wilcon Depot Inc., expressed confidence in the prospects of the home improvement business.
She announced during the company’s annual shareholders’ meeting that Wilcon would accelerate its store expansion plan by opening 10 more stores this year, hitting its goal of 100-store network a year ahead of schedule. By the end of 2023, Wilcon already operated 90 stores.
Belo-Cincochan highlighted the launch of Wilcon’s re-conceptualized small format stores branded as “Do It Wilcon” (DIW), which will replace the existing “Home Essentials” outlets. The conversion of HE branches into DIW format is scheduled to be completed by the end of 2024.
The DIW stores will primarily function as stand-alone hardware outlets situated near residential or commercial areas. They will offer a focused range of product categories with fewer stock keeping units (SKUs). Additionally, in certain instances, DIW stores may be established within malls.
Looking ahead, Belo-Cincochan affirmed Wilcon’s commitment to expanding its store network beyond 100 outlets. This expansion aims to enhance accessibility for customers and improve product offerings and operational efficiency. Wilcon plans to leverage its strengths in product development, sourcing, and marketing to achieve these goals. Moreover, the company intends to continually enhance the overall shopping experience in its stores.
