Goldilocks Bakeshop, Inc., one of the SM Group’s portfolio investments, plans to increase its nationwide presence by 60 new stores in 2024.
Goldilocks opened 41 stores in 2023, bringing the total to 926 stores nationwide to reach and serve more customers.
The company said it looked to expand responsibly in emerging centers in the region, building on the momentum from last year with over 40 percent of new locations situated in the Visayas and Mindanao.
“Aligned with the SM Group’s strategy to develop areas outside of the NCR, the Visayas and Mindanao regions offer strong growth potential as many areas there are still unserved and/or underserved. From a customer focus standpoint, we continue to be committed to their needs and wants by building 60 new Goldilocks stores, with the aim of creating more delightful celebrations with our signature cakes and food offerings,” said Goldilocks chairman Frederic DyBuncio, who is also the president and chief executive of SM Investments Corp.
Goldilocks introduced in 2023 new cake flavors such as Mango Dream, ensuring celebrations during Mother’s Day are extra special, Rainbow Magic and Luscious Choco to bring out the playfulness in Birthday occasions and Merry Cherry Choco to capture the essence of the holidays and spruce up the typical Noche and Media Buena spreads.
Goldilocks’s network of over 76 multi-unit franchisees nationwide to date—mostly customers who turned business owners and partners—was instrumental in growing the company’s footprint to reach more customers.
Beyond site assessment, the SM Group’s leading bakeshop also provides financial and entrepreneurial support, and employee training to ensure a smooth transition of the franchise’s operations, said Goldilocks president Richard Yee.
“As their partners, we see to it that our franchisees are in the position to succeed as their success allows us to be more connected with the customers,” Yee said.
“We take great pleasure to being a trusted brand of Filipino families for their milestone celebrations,” DyBuncio said.
“In the coming year, we’ll stay true to the brand’s core values of thoughtfulness, care, and love for family to ensure an even more delightful experiences for our customers,” he said.