BusinessmanRetailers

Lucio and Susan Co Net Worth

Lucio and Susan Co Net Worth is
$1.91 Billion



Lucio and Susan Co Biography

$1.2 Billion: Lucio and Susan Co, a husband-and-wife group, have got struck gold with their Puregold Cost Golf club, a chain of over 150 hypermarkets, supermarkets and discount stores. You start with one shop in 1998, the Cos have expanded at an instant pace, recently through acquisitions, to build Puregold in to the nation’s second-largest store, after Henry Sy’s SM group. Unlike what its name suggests, an average Puregold outlet stocks not really fancy items but a variety of cheap merchandise targeted at a rising people of middle-class buyers and owners of community convenience stores, referred to as sari-sari shops. (It promises to have over 230,000 of these as its clients.) Since 2010 the store’s revenues possess doubled to $1.3 billion with net revenue increasing fivefold to $65 million. Lucio’s retailing background is associated with running duty-free airport terminal shops, including at Clark AIRPORT TERMINAL, a former American surroundings force bottom northwest of Manila. With Puregold the Cos possess gained both respectability and fantastic riches. Since 2011, if they took the company open public, its shares possess soared threefold. “Puregold may be the country’s just pure play retail firm, and it’s on an aggressive development trajectory. Investors like this,” says Lauro Baja, nation mind of UBS UBS -5.00% Philippines, that was a lead supervisor in its IPO. Lucio and Susan Co net value: Lucio and Susan Co are Filipino billionaires who’ve a net value of $2 billion. Lucio and Susan Co talk about the ownership of 1 of the next largest retailing firm in the Philippines, Puregold Cost Club, the former getting Puregold’s chairman and the latter serving as the Vice Chairman. Plus, two of their kids take a seat on the board currently. Lucio and Susan Co began small back 1998, if they opened just one single store, but since, they have considerably expanded the business enterprise that now numbers a lot more than 150 hypermarkets, supermarkets and low cost shops. Having low and middle-income consumers and little shop owners as its focus on, Puregold possess doubled since its IPO in 2011. But aside from their developing retail business, both also hold passions in gaming, hotels, wines distribution and property. Lucio and Susan Co will be the owners of the next largest retailing organization in the Philippines today, Puregold Price Golf club. With over 70 hypermarkets, discount shops and supermarkets, Puregold Cost Club now comes after Henry Sy’s SM Group which may be the largest retailing organization in the country. The business began with a Hypermarket in 1998 which targets middle and low-income customers. Lucio Co presently sits as Puregold’s chairman while Susan Co acts as the Vice Chairman. With a complete net worth of $1.2 billion by this past year,


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