How husband-and-wife billionaire duo becomes Philippines' 4th richest with hypermarket chain Puregold Price Club
From a single store in 1998, Lucio and Susan Co grew their Puregold Price Club into a retail empire that has made them the Philippines’ fourth-richest people.
In 1998, a husband-and-wife billionaire duo made their mark on the Philippine retail industry with the establishment of Puregold Price Club. Lucio and Susan Co, former oil industry professionals, founded the hypermarket chain with the aim of providing affordable goods and seamless service to Filipino consumers. Their first store was opened in Mandaluyong City, and the chain quickly gained popularity due to its innovative hypermarket concept, which featured a single-floor store layout and a wide range of products.
In 2011, Puregold went public, further solidifying its position in the market. The Co's expertise in business and their commitment to community service enabled the chain to grow and diversify, eventually expanding beyond hypermarkets to include warehouse clubs and quick-service pizza restaurants. Puregold's success can be attributed to its focus on low- to middle-income consumers and sari-sari store resellers, which has allowed the company to tap into demand across various market segments.
In 2026, Puregold reported a significant increase in net profit and revenue, underscoring its resilience in the face of competition. The Co's business empire extends beyond Puregold, as they have also ventured into finance, real estate, and energy, including a recent acquisition of PrimeWater Infrastructure. As one of the few tycoon couples in the Philippines, the Co's personal life remains largely private.
However, their impact on the retail industry and their commitment to supporting Filipinos' everyday needs have made them a well-respected and influential force in the country.
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