S&R Membership Shopping

Last updated

S&R Membership Shopping
S&R Shopping logo.svg
S&R Membership Shopping - BGC.jpg
S&R branch at Bonifacio Global City
Product typeMembership-only retail warehouse club chain
Owner Puregold Price Club Inc.
CountryPhilippines
IntroducedNovember 2001;23 years ago (2001-11)
MarketsPhilippines
Previous owners PSMT Philippines, Inc. [1]
Website snrshopping.com OOjs UI icon edit-ltr-progressive.svg

S&R Membership Shopping is a membership-only retail warehouse club chain in the Philippines.

Contents

History

S&R Membership Shopping was established in 2001 as S&R PriceSmart, a franchise of the American membership-only warehouse club chain PriceSmart. [1] [2] The name "S&R" stands for American businessmen Sol and Robert Price, founders of Price Club and PriceSmart. [1] PriceSmart was the first major foreign retailer to enter the Philippine market since the passage of the Retail Trade Act of 2000, which liberalized the retail sector. [3] In November 2001, PriceSmart opened its first branch on a 5,000 m2 (0.50 ha) property in Bonifacio Global City, then known as The Fort. [4] [5] [6]

In 2005, PriceSmart sold its share in the joint venture and was acquired by Lucio Co and his family in 2006, and the retail chain was renamed as S&R Membership Shopping. The Co's operations over S&R is taken care of by Kareila Management, Inc. which also operates the Puregold Price Club. [7] [8]

The chain opened three more branches in Metro Manila before opening its first branch outside of Metro Manila and Luzon in Mandaue, Cebu in 2010. [8]

In 2012, Puregold and Kareila underwent a merger. The former bought all the stakes of Kareila Management over S&R. [7] [9]

In 2014, S&R opened its first standalone membership-free S&R New York Style Pizza restaurant in Fairview Terraces in Quezon City. [10]

Business model

S&R Membership Shopping adopts the US warehouse club model, exclusively for members. It targets the upper middle class [11] and offers a tire center at its locations. Additionally, S&R features a membership-free restaurant chain, known for its New York-style pizza. [12] S&R also has partnerships with UnionBank, offering a co-branded S&R membership card and credit card with additional S&R benefits, [13] and Unioil, which offers discounted gasoline and diesel prices for members at participating Unioil gas stations. [14]

Branches

As of December 2024, S&R operates 28 warehouse club branches, with 23 in Luzon, three in Visayas, and two in Mindanao. [15]

See also

References

  1. 1 2 3 Bronce, Quennie Sanchez (October 2, 2010). "S&R Shopping". The Philippine Star. Retrieved November 16, 2021.
  2. ↑ Dumlao, Doris (August 25, 2012). "S&R expands network". Philippine Daily Inquirer. Retrieved November 16, 2021.
  3. ↑ Dueñas-Caparas, Maria Teresa. "State of Competition in the Wholesale and Retail Sector" (PDF). Philippine Institute for Development Studies. p. 34. Retrieved November 16, 2021.
  4. ↑ "PriceSmart opens 4th location in RP". The Philippine Star. June 7, 2004. Retrieved August 17, 2022.
  5. ↑ Defensor, Teresa (October 18, 2001). "Shopping American-style" . BusinessWorld – via NexisUni. The first outlet opened last May in a 5,000 sq.m. property at Fort Bonifacio Global City in Taguig
  6. ↑ "PRICESMART, INC. 10-K 8/31/02". U.S. Securities and Exchange Commission. August 31, 2002. Retrieved August 17, 2022.
  7. 1 2 Montealegre, Krista Angels (March 29, 2012). "Puregold sets acquisition of S&R supermarkets". The Manila Times. Retrieved November 16, 2021.
  8. 1 2 Dagooc, Ehda (November 27, 2010). "S&R entry in Cebu to boost "member-shopping" culture". The Philippine Star. Retrieved November 16, 2021.
  9. ↑ "Puregold acquiring S&R for P16.5B". March 28, 2012. Retrieved November 16, 2021.
  10. ↑ S&R Membership Shopping (August 14, 2014). S&R New York Style Pizza, Fairview Terraces (Video). Retrieved August 9, 2024– via Facebook.
  11. ↑ "Retail marriage: Puregold to acquire S&R". Rappler. March 28, 2012. Retrieved November 16, 2021.
  12. ↑ Cabuag, V. G. (August 2, 2015). "S&R to double store count in five years". BusinessMirror. Retrieved November 16, 2021.
  13. ↑ "UnionBank S&R Visa Platinum Card". UnionBank . Retrieved September 17, 2024.
  14. ↑ "Unioil extends partnership with S&R until 2027". Unioil. November 1, 2021. Retrieved September 17, 2024.
  15. ↑ "S&R Warehouse Club Locator". S&R Membership Shopping. Retrieved May 13, 2024.
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