SHAKEY’S Pizza Asia Ventures Inc. (Spavi), the owner of the Shakey’s Pizza brand in the Philippines and in select parts of Asia and Australia, said it will add some 20 stores in the country this year after exceeding its expansion last year.
The company said in a statement it opened a total of 24 branches last year, or four more than the 20 branches it planned to open.
Meeting the 2018 target will bring its total Philippine store network to 228 at the end of this year, the company said.
“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,” Shakey’s President Vicente Gregorio was quoted in a statement as saying. “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.”
Last year Spavi opened Shakey’s Pizza stores in provincial locations, including Iligan, Puerto Princesa, Antique, Gapan and Palo, Leyte, following the growing urbanization trend in these areas.
The company has also started to roll out redesigned interiors for its newer branches, which will take the American family casual dining concept to another level.
Spavi, which has been assigned a stock name Pizza at the stock exchange, recently reported that recurring net income for the first nine months of 2017 grew by 15 percent versus the comparable period last year. System-wide sales rose by 15 percent, as well, driven by same store-sales growth of 6 percent and an expanding local store network.
Apart from the Philippines, Spavi also owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.