The Philippine Retailers Association (PRA) honored Puregold Price Club Founder and Chairman Lucio L. Co with its prestigious PRA President’s Award this year for his invaluable contribution to the growth of the micro-retail sector.
Co was officially included in the list of pillars and important contributors to the growth of Philippine retailing during the gala night on June 16 for the 19th Outstanding Filipino Retailers and Shopping Centers of the Year (OFR-SCY) Awards, the country’s “Oscars of the Philippine retailing” at Marriott Grand Ballroom, Newport City Complex in Pasay City.
The PRA Board unanimously decided to bestow upon Co, who chairs the conglomerate Puregold Price Club, the title “Patron of Micro-Retail Entrepreneurship” for the 11th President’s Award, the highlight of the event. Co joins the elite list of personalities who were previously recognized and who have made an indelible mark and contribution to the growth of the Philippine retail industry.
Co expanded the realm of the retail industry through Puregold’s numerous programs to help micro retailers, or community sari-sari store owners, get access to low-priced goods for resale in their areas.
“Mr. Lucio Co gave the country’s retail industry a big boost right at the grassroots level. He has given small community store owners a reliable source of merchandise that are fit for their micro operations. His invaluable contribution to the Philippine retail industry truly deserves PRA’s highest recognition,” PRA President Lorenzo C. Formoso, COO of Duty Free Philippines, emphasized.
Co’s Puregold also launched several programs to boost the competitiveness of small retailers, like the annual Sari Sari Store Convention.
Co receives the PRA President’s Award, the highest award given by PRA in cooperation with the Department of Trade and Industry, in recognition of his successful and influential contribution to the growth of micro-retail entrepreneurs, particularly through Puregold’s Tindahan ni Aling Puring (TNAP) program that promoted the enhancement and development of micro-retail entrepreneurship in the Philippines.
The program manifested Puregold’s mission to serve and uplift the livelihood of every Filipino family, while contributing to the country’s aspiration for inclusive growth.
Previous recipients of the President’s Award include Henry Sy (Father of Philippine Retailing), Fernando Zobel de Ayala (Pillar of Philippine Retail Development), Jorge Araneta (Pioneer of Philippine Retail Entertainment), Samie Lim (Pioneering Pillar of Franchising), Socorro Ramos (Matriarch of Philippine Retailing), John Gokongwei Jr. (Champion of Retail Entrepreneurship), Amb. Bienvenido Tantoco Sr. (Father of Luxury Retailing), Mariano Que (Father of Health and Wellness Retailing), Teresita Sy-Coson (Philippine Retailing’s Woman Visionary Leader), and Dr. Andrew Tan (Pillar of Mixed-Use Developments).
Also recognized during the PRA event are this year’s winners in the following categories: Full-Line Department Store/ Hypermart, Food Retailer, Fashion, Services, Home Improvement Center, Most Promising Retailer, Regional Retailer, Specialty Retailer, Global Retailer of the Year, Shopping Center of the Year and Regional Shopping Center of the Year.
Evelyn Balmeo-Salire, PRA secretary-general, said the annual awards serve as PRA’s way of inspiring industry players to recalibrate their operations to be globally competitive.
“Retailers have become more aware of the stringent criteria for evaluating and judging the candidates and they know that when a company is awarded, they are truly world-class. This is why in the many years that we have been presenting the awards, the number of nominees, including self-nominations, has consistently increased,” Salire stressed.
1 comment
Can you post a short resume/historical background of the awardee? Who was he before he established Puregold? How did he started/become a successful entrepreneur/ businessman? Can the young learn anything from his acumen?