LISTED pizza chain Shakey’s Pizza Asia Ventures, Inc. (SPAVI) said it is poised to exceed its target of 20 new stores this year as it ramps up its expansion plan.
“Last count I think we had 17 up—the stores opened this year. This is the 17th for this year,” SPAVI President Vic Gregorio told reporters on the sidelines of the launch of its 200th store in Makati City.
“The guide we gave was at least 20 new stores. It is safe to say that we would at least exceed 20—whether we do 25 to 28, it’s still up in the air—it depends. We’re still negotiating the leases … but definitely I am happy to report that we should easily exceed the 20 new stores,” he noted.
Branches that were opened this year include those in Quezon City–namely Ayala Vertis North, Visayas Avenue, and Roosevelt Avenue—as well as one in Iligan City in Lanao del Sur, near to war-torn Marawi City.
Internationally, the company said it is planning to put up more stores in areas where there is a good Filipino base.
Earlier, SPAVI announced it has signed an area development agreement with a Dubai-based firm for the construction of at least 10 Shakey’s branches in the United Arab Emirates. Late last year, it said it would open 10 new stores in Kuwait over the next seven years, with the first store targeted to open in the third quarter of 2017.
For the first half of the year, SPAVI posted a recurring net income of P386 million, up 10 percent from last year’s comparable period on the back of an increasing revenue base.
Shakey’s is recognized globally as the original pizza franchise. In 1975 it opened its first outlet in the Philippines, where it currently maintains market leadership in both the full service and pizza chain categories.