The Lucio Co-controlled Cosco Capital is entering the home improvement in partnership with Thailand’s Siam Global House Public Co. Ltd.
The partnership will operate a one-stop warehouse that will try to take a bite on the country’s big box home improvement market.
The joint venture is capitalized at P5 million.
Cosco said the store, which may carry the Thai brand Global House, will sell building and construction related materials, home and garden decorative goods, home improvement goods, and construction equipment and tools.
The new joint venture company will be a 55:45 venture, with Siam Global owning the majority.
“The joint venture is looking to finalize, construct and open three to five stores in the next 12 to 18 months in the National Capital Region, Calabarzon and Region 3,” Cosco said.
Siam Global is based in Thailand with 76 stores selling building materials and home decorative products. – Ruelle Castro
