Restaurant operator Shakey’s Pizza Asia Ventures Inc. said Thursday it plans to open 20 new stores in 2018 to bring its total network to 228 outlets.
Shakey’s said in a disclosure to the stock exchange it opened 24 stores in 2017, which marked its first year as a listed company.
“It has been a banner year for Shakey’s―our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network. We have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy,” Shakeys president Vicente Gregorio said.
“We will continue to take advantage of the positive consumer sentiment in the Philippines and hope to open even more stores, including those outside the typical first-tier cities,” he said.
The pizza chain penetrated new markets last year, as it opened a number of stores outside Metro Manila including in Iligan City, Puerto Princesa City, Antique, Gapan in Nueva Ecija and Palo in Leyte.
It started to roll out redesigned interiors for newer branches which took the American family casual dining concept to another level.
“As the Filipino is now looking for more premium dining experiences, we are driven by our mission to consistently ‘wow’ them. This includes upgrading our look, launching innovative products and emphasizing a high quality of service,” said Gregorio.
The company is expected to have its first store outside the Philippines this year.
The pizza chain signed two area development agreement in 2017 involving the construction of 10 Shakey’s stores in Kuwait and another 10 stores in Dubai.
Shakey’s, recognized globally as an original pizza franchise, was established in the United States in 1954 and was best known for “the pizza that started it all”. In 1975, it opened in the Philippines where it currently maintains market leadership in both the full service and pizza chain categories.
Shakey’s reported a 15-percent income growth in the first three quarters of 2017, as system-wide sales rose 15 percent from a year ago, driven by same-store sales growth of 6 percent and an expanding local store network.