The Prince Retail Group of Companies’ vision is OTOP – ONE TOWN, ONE PRINCE.
We serve the base of the pyramid of the Philippine market, which comprises of more than 85% of the population. These underserved communities are the Filipinos who need our products and services the most. We offer to them the right and quality products at affordable prices in a convenient and comfortable shopping experience. With our affordable prices and personalized customer service, it is our vision to make a significant and sustainable positive impact in the lives of every Filipino in every town in the country.
The Prince Retail Group of Companies’ mission is TO SERVE THE UNDERSERVED.
- We exist to provide significant value to every Filipino we serve – through more affordable, acceptable and available products for their everyday consumption and use, with a distinct personalized service to delight every customer in town.
- We uplift the lives of the Filipino community through entrepreneurship and livelihood opportunities to improve their way of living.
- We impact the cities and towns we are in by boosting the local economies, enhancing the Filipino urban and rural life.
PARTNERSHIP & TEAMWORK
- Acknowledging that our roles are all connected, thus the need to constantly coordinate and collaborate to achieve our common goal.
- Positive team and family spirit knowing that Together Everyone Achieves More.
- No man is an island. Don’t think that only you can solve the problem.
- Be pro-active and reach out to others who can help you achieve the organizational goals and objectives.
- Value and encourage win-win relationships.
RESILIENCE TO CHANGE AND CHALLENGES
- HAVE COURAGE to go out of your comfort zone
- Positive outlook despite the difficult road ahead and not simply give up when things get hard.
- Remember that, ‘Pressure is the law of Progress’
- We are REBELS WITH A CAUSE.
- Flexible to change when circumstances require us to change. Learn to embrace it.
GOAL DRIVEN WHILE HAVING FUN
- In doing anything, we should clearly understand the ultimate holistic goal and not replace it with less impactful results that disguise the objective.
- Raise problems and present solutions.
- Innovative and solution-oriented; Dig deep and root-cause analysis.
- Fast and Flexible; Flexibility to change preset procedures that are no longer relevant due to the rapidly changing retail environment.
- Always be trying – new approaches, new ideas, tweak, fail fast and move forward.
- Care for customers, employees and vendors.
- Sincere and serious about serving the underserved.
- Treating each transaction or business relationship as ‘win-win’ approach and not just people who we can ‘get from’ or ‘squeeze from’.
- Create strategies and improvements based on what the customer needs, and how to relieve the pain of our customers and employees because this is how we can connect better with them.
- Solution-oriented – NOT product-oriented.
- Respect one another.
UNITY, HUMILITY AND OPENNESS
- Empty your cup so you can be filled.
- Always pursue learning and growth.
- ‘Don’t let success get into your head, and Don’t let failure get into your heart’.
- We are not born to be perfect. Have the humility to accept our imperfections and find beauty in balancing it with others who can nurture and grow us to become more-whole person.
- Learn to accept corrections and have an open heart and mind to receive constructive criticisms to grow. Remember that undetected pride are the ultimate blinders.
- Compete only with yourself.
LIVING OUT THE OWNER’S MINDSET IN ALL THAT WE DO
- A powerful sense of responsibility for our employees, partners and especially customers.
- Empowered to take action. A bias towards speed and aversion to bureaucracy.
- Accountability to decisions and all the consequences that may arise from it.
- MALASAKIT: That we put heart in our work with the mindset that not only does it benefit our personal goals but that work goes beyond ourselves – to our colleagues, co-employees who struggle and rejoice with us, to the growth and inspiration we give to others, to the lives of the customers we touch through the service we make available.
TRANSPARENCY AND HONESTY
- There is liberation in truthfulness when done with pure care for the other’s goodness.
- Do not create a culture of talking bad behind the person but confront him/her directly and openly to resolve issues with professionalism and respect.
UPLIFTING GOD WHO IS THE CENTER OF ALL
- Our purpose for our work is to Glorify God.
- Work is our form of prayer.
RESPONSIBLE FOR THE COST-BENEFIT INITIATIVE
- All projects and initiatives should be well-thought of to ensure that benefits will always outweigh the cost.
- Consciousness to expenses. Our ability to manage costs yet produce results is how Prince has become successful in retail at the base of the pyramid.
- DO MORE WITH LESS.
- ROI driven – be frugal on expenses yet invest wisely.
EXCELLENCE IS A HABIT TO STRIVE FOR
- Work done well
- KAIZEN: Continuous improvement in ourselves, our processes and in the way we do things.
- Don’t settle for mediocrity.
- If something can be done better, don’t think twice. Do it.
Founded in 1990 by Robert Lim Go, Prince Retail Group was formerly known as Prince Warehouse Club, Inc. as a chain of retail and wholesale stores based in Cebu City, Philippines. Prince opened their pioneering branch at the North Reclamation Area by converting a warehouse into a store with a single cash register initially selling glassware, kitchenware, plastic ware and other household items. A year later, due to growing demand from customers, Prince Warehouse Club expanded into selling grocery items, gaining a wider range of customers and wholesalers.
After three years, in 1993, they opened their second store at A.C. Cortes, Mandaue City in Cebu, building a bigger store. It was again a successful venture, and was later assigned to Robert’s brother, who is now separately and independently managing the Prince Warehouse Club – Mandaue group chain of stores.
In an effort to continually uphold even higher customer satisfaction, Prince Retail Group’s (Prince Warehouse Club) Sari-Sari Store Society (SSS) was organized, which soon became instrumental in empowering sari-sari store owners who shopped at Prince to grow and be competitive in their neighborhoods where they opened shop. It is now known as the Prince Royalty Program.
In the next few years, other programs to uplift the livelihood opportunities of customers were created to further improve the services that Prince offers to its customers. Over the years, the company also expanded its product lines to include furniture, appliances, school and office supplies, garments and footwear and many more to complete its whole range of products.
To date, Prince has rebranded to become PRINCE HYPERMART and is known to be a one – stop shop known for its wide variety of affordable Grocery/Supermarket, General Merchandise, and Department Store items with various added services for customers in town. Thriving on a strong commitment to serve the Filipino market, Prince continues to offer affordable prices for the quality merchandise they sell in any city, town or municipality they are located in.
With the well-educated and driven second generation, the founder’s children now occupy key management positions in the organization. The Prince Retail Group has since then, transitioned from the traditional to the dynamic, modern and professional corporation they are today, which is now mainly composed of young professionals driven to expand their footprint in the Philippine retail industry. Prince Hypermart stores are now using unique green technology, and the organization upholds the “Base of the Pyramid initiative”, which focuses on serving Filipinos at the grassroots level in urban and rural areas; those economically located at the base of the pyramid.
Today, Prince Hypermart is present all over the Philippines with stores in Luzon, Visayas and Mindanao; mainly focused in underserved rural and island regions around the country.
As the Prince Retail Group of companies continues to grow and expand, they uphold the empowerment of their total workforce through a strong adherence to its values and commitment to render the best and most personalized customer service while being a household name for quality affordable merchandise to the communities they serve. As one of the fastest growing retailers in the country, Prince Hypermart continues to widen their reach to every Filipino in every town to achieve their ultimate mission of serving the underserved.