Newly-listed restaurant chain Figaro Coffee Group Inc. said Friday it plans to add 41 stores this year in preparation for the further reopening of the economy.
Figaro said in a disclosure to the stock exchange it would open 29 Angel’s Pizza outlets, the group’s leading revenue driver for the past couple of years.
It also plans to open six The Figaro Group Express multi-brand outlets, five Figaro Coffee shops, and one Tien Ma’s Taiwanese restaurant.
Figaro said that with the continuous rollout of vaccinations, it sees a strong rebound in the food and beverage industry in 2022 as the easing restrictions will boost dine-in sales. Sales from delivery service will also remain strong, it said.
“Yes, we are optimistic that the economy will further improve this year with the alert levels coming down and vaccination drives by the government continuing with strength. We look forward to people going about their daily lives outside gradually and in a safe manner,” said Figaro chairman Justin Liu. Jenniffer B. Austria
