International Family Food Services Inc., the operator of the Shakey’s Pizza Parlor franchise in the Philippines, said it will spend P500 million to put up more stores and upgrade existing outlets this year.
International Family Food Services chief executive Vicente Gregorio said in a news briefing the company would build 10 Shakey’s stores and renovate 22 existing outlets in 2015.
“There are not so many brands that can last 40 years and remain strong. We believe that to continue to be relevant, we need to be present in areas where we think we matter. This includes renovating existing stores to maintain that casual family dining experience,” he said.
Shakey’s reached a milestone this year with a 40-year presence in the Philippines, since serving pizzas in Makati City in 1974.
Gregorio said the brand was not just “trying to meet [the customers] expectations but was trying to exceed expectations.”
He said of the 153 Shakey’s stores in the Philippines, about 60 percent was company-owned, while the rest were under franchise agreements.
The company is seeking new opportunities to expand especially in the provinces, he said.
Sales growth averaged 18 percent annually over the last 11 years, said Shakey’s Pizza general manager Jorge Concepcion.
Concepcion said the brand expected slightly higher if not similar growth forecast for 2015.
“We continue to evolve with the change in environment. We continue to innovate for us to grow and meet certain expectations, and deliver satisfaction to our customers,” he said.
The company said it was now the top brand in the pizza food category.
Shakey’s Philippines is the brand’s largest franchise with more 150 pizza parlors nationwide.
The US, where the brand originated, had only 60 branches mostly in the West Coast, especially Southern California.