Early Life
Lucio Co was born in Manila, Philippines in 1956. He grew up in Santo Cristo, Divisoria. His parents owned the Atlantic Glassware store.
Rise to Success
Co's entrepreneurial journey began with Alcorn Gold Resources Corporation, which later became Cosco Capital, Inc. During the 1997 Asian financial crisis, he identified an opportunity in the retail industry. He founded Puregold Price Club, Inc. on September 8, 1998, with his wife Susan Co. The first Puregold store opened in Mandaluyong City in December 1998. Puregold expanded rapidly, becoming a publicly listed company in October 2011.
Key Business Strategies
Puregold's success is attributed to several key strategies. These include a focus on locations with high concentrations of small retailers, the development of Puregold-branded products, and strategic acquisitions. The "Tindahan ni Aling Puring" program caters to sari-sari store owners. Puregold has also acquired other companies, such as S&R Membership Shopping.
Philanthropy
Puregold, under the leadership of Lucio Co, has been involved in philanthropy through various initiatives. For example, in March 2024, Puregold held its first CinePanalo Film Festival, giving grants to filmmakers. While specific amounts are not readily available, the company has demonstrated a commitment to supporting education and the arts.