January 2, 2023 | 12:00am
MANILA, Philippines — Upson to expand store network Upson International Corp. (Upson), which is planning to embark on an initial public offering within the first quarter, is looking to double its store network over the next three to five years.
“Our rollout plan is to add 250 more branches over the next three to five years. We shall continue to provide authentic, untampered, and high-quality PCs and IT products for all Filipinos up to the farthest possible corners of our country,” said Upson president and CEO Arlene Sy.
At present, Upson has over 200 stores nationwide from 183 stores in 2021.
Upson is a retailer of personal computers (PC) and information technology (IT) products. The company operates under the brand names Octagon Computer Superstore, Micro Valley and Gadget King.
From January to September last year, Upson posted a net income of P400.23 million, up 68.6 percent from a net income of P237.38 million in the same period last year.
Furthermore, net sales reached P7.03 billion during the period, up 10.17-percent compared to the P6.38 billion net sales recorded in the same period of 2021.
Higher sales volumes and more efficient operations accounted for the strong growth.
However, Sy said the retail market even for computer products was affected by the pandemic-related reduction in foot traffic.
At the same time, she said, the long periods of immobility prompted the market to adapt by implementing various arrangements, which include online learning and work-from-home setups.
This has helped maintain demand for computers and other technology-related products.
To date, Upson carries over 13,000 PC and IT products, some of which are exclusively sold by its stores. Over the years, Upson has been named top distributor, dealer of the year, retail partner of the year, and top national sales by its long-standing suppliers such as Acer, Asus, Epson, HP, Seagate, and more.
Moving forward, Upson aims to continue to be at the forefront in support of the country’s drive toward technological advancement.
“We are thankful for our loyal customers who continuously patronize our products. I also commend the entire Upson family for their efficient and diligent work, which empowered us to keep growing.
Upson is committed to assist our country towards technology and digitalization,” Sy said.