Early Life and Founding of Puregold
Susan Co, along with her husband Lucio Co, founded Puregold Price Club in 1998. The venture was launched during the 1997 Asian financial crisis, with the aim of supporting their employees. The first store opened in Mandaluyong City. Their hypermarket concept, along with their support for local sari-sari store owners, led to the company's rapid expansion.
Rise to Success
Under Susan Co's leadership, Puregold grew to become the second-largest retailer in the Philippines. The company's growth strategy included acquisitions, such as Kareila Management Inc. which owns S&R Membership Shopping. Puregold went public in October 2011, marking a significant milestone in its success.
Key Business Strategies
Puregold's success is attributed to its focus on providing affordable goods to a rising middle class and catering to the needs of neighborhood convenience stores, known as sari-sari stores. The company has also embraced technology with the Puregold Mobile app, offering online delivery, in-store pick-up, and self-checkout. Additionally, the company expanded its store network, with over 640 stores across the Philippines.
Philanthropy
Details regarding Susan Co's specific philanthropic endeavors are not readily available in the search results.