Po-led Shakey’s Pizza Asia Ventures Inc. (PIZZA) is ramping up efforts to expand its footprint in the country and further grow its customer base in preparation for the full reopening of the economy.
PIZZA president and CEO Vicente Gregorio said the leading full-service restaurant chain in the Philippines, is going full throttle with its expansion to take advantage of increasing consumer spending.
The company had already opened 31 new stores this year, exceeding its initial target for 2021. The latest outlet is located in Sorsogon City in Bicol, a popular tourist spot in the country.
“A Philippine reopening is within eyeshot. Vaccination is ramping up. Restrictions are easing. Families and their children are out and about. “Shakey’s, with its strong balance sheet and healthy cash generation, is in a good position to accelerate our store expansion program. We are fully prepared to accommodate the resurgence of the Filipino consumer,” Gregorio said.
Another restaurant brand under PIZZA that has been aggressively expanding is Peri-Peri Charcoal Chicken. Since its acquisition in 2019, PIZZA has more than doubled the store network of Peri- Peri, recently opening its 48th store in Glorietta.
Apart from this, PIZZA also opened the very first drive-through
milk tea store in the country. It has rolled out Singapore’s R&B milk tea products in more than half of Shakey’s and Peri-Peri’s outlets.
Gregorio said all new stores are profitable and are expected to deliver fast payback.
“We look forward to continuing on this road to recovery. We are expecting PIZZA to return to profitability by year end, especially with the holiday season looking bright, and, if all goes well after the holidays, we hope to go on full throttle entering 2022,” he said.