Penshoppe Group spending P800 million for store expansion

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April 7, 2026 | 12:00am

MANILA, Philippines — Golden ABC Inc. (GABC) will continue going up on what appears to be another golden year for the company popularly known as the Penshoppe Group.

GABC president and CEO Alice Liu told The STAR said the company is earmarking about P800 million in capital expenditures for its store openings, renovations and other investments for 2026.

Liu said GABC, whose brands include Penshoppe, Oxygen, Regatta, Memo, ForMe and Bocu, remains bullish on expanding its store network despite challenges being presented to the economy by the ongoing Middle East conflict.

“We continue to grow with the malls, in the same way as the malls are opening, because nobody is pulling back. With every crisis there is also opportunity to also grow. Of course, you have to worry and think about cash flow. But if you have the cash flow, take the opportunity to continue to grow,” she said.

Across its six brands, Liu said GABC has a pipeline of at least 150 stores for opening, renovations and upsizing this year.

“There should be at least 80 new stores across all brands. But we will have to recalibrate depending on how many malls will be able to open on time,” Liu said.

“Depending on the availability of space also, we’d like to expand some of our brands to bigger store spaces,” she said.

Liu, who previously served as GABC’s president and COO, was named GABC CEO last year as part of the company’s succession strategy. Long-time CEO Bernie Liu has focused on his role as executive chairman of both Golden ABC as and its holding company LH Paragon Inc.

GABC, which originated in the Philippines in 1986, has emerged into a multi-brand fashion enterprise with over a thousand stores and presence in different countries across the globe.

“We still remain bullish about the Philippine economy. We have to help our own economy grow,” Liu said.

As the company continues to expand, Liu said the GABC intends to remain as a private company, with no plans of going public yet in the near future.

“We’re still okay as far as being able to self-fund our growth. We have our stable financial partners. So nothing yet,” she said.