Fruitas Holdings Inc., the Philippines’ leading food and beverage kiosk operator, said Tuesday it plans to build 50 community stores by the end of this month to remain on track of its target of 100 outlets before the end of 2021.
Fruitas said in a disclosure to the stock exchange it would open the first stand-alone Fruitas Creamery, which would sell its line of Fruitas dairy-based ice cream and Soy & Bean soy-based ice cream.
It said within the next few weeks, it would open Soy & Bean community stores in the cities of Las Piñas and Marikina, and its first franchised community outletin Rizal province.
It also recently launched its line of Fruitas Pure 100-percent cold pressed juices naturally made from fresh fruits and vegetables that contain high amounts of nutrients, vitamins and minerals.
“The pandemic has required us to adapt to the demands of our customers. We will continue to expand and enhance CocoDelivery. Our community stores, which were conceptualized during these challenging times, now contribute approximately 10 percent of our revenues and we expect this to further increase moving forward,” Fruitas president and chief executive Lester Yu said.
“We will also be offering a wider selection of products to our customers and get closer to them. As near-term risks from the pandemic remain, we will also further amplify the health benefits of our key products,” Yu said.
The company said that in line with previously disclosed plans, it is using its community store network to expand its delivery service, making CocoDelivery available through Soy & Bean community store along McArthur Highway in Angeles City, Pampanga to serve the city and neighboring towns.
Fruitas said in January it would spend P240 million to P270 million for its 2021 capital expenditures.