CEBU-BASED foam and furniture maker Mandaue Foam Industries Inc. (Mandaue Foam) is opening three more branches next year.
Mandaue Foam marketing and assistant operation manager Jonathan Ho said the company’s expansion plans are anchored on the continued growth of home furnishings, which is driven by the robust real estate industry.
He said the company is strengthening its foothold in Luzon and promising areas in the Visayas like Bohol, where the tourism industry is booming.
Mandaue Foam will open its 18th branch in Metro Manila and 19th branch in Lipa, Batangas by the third quarter of next year. It will also expand in Tagbilaran, Bohol by next year.
Ho said the company will invest P5 million to P10 million for inventories in the new showrooms.
Mandaue Foam has 17 showrooms and six factories nationwide. The company said it has a 20 percent share in the foam and furniture market. Its trademark products include its flex foam and hotel quality gala bed mattresses.
In an earlier interview, Mandaue Foam managing director Ryan Uy said that although they see huge opportunities in bringing the product to the international market, the company is focusing on strengthening the brand’s presence in the Philippines.
Uy said they are also looking at areas where they could expand operations particularly in Samar, Leyte, Pangasinan and Bicol.
Ho said they will be taking advantage of the country’s stronger economic growth, consumer’s increased purchasing power and the robust growth in the real estate sector to grow their business.
The company supplies upholstery and foam requirements of local furniture and home furnishings makers.