Shakey's ramps up expansion in the Philippines
It will start to further expand into the Visayas and Mindanao region.
According to Business World Online, Shakey’s Pizza Asia Ventures, Inc. (SPAVI) is ramping up efforts to take its pizza business to previously untapped territories, as it aims to grow earnings and sales by mid-teens by end 2017.
The company is allocating around P400 million to P500 million for the construction of 20 stores in the Philippines, adding to its 189 stores as of end March.
“We think there’s a lot of runway and opportunity in the Visayas Mindanao region. Despite the current trouble in Mindanao, Marawi, I think there are many other places there, like Roxas, Aklan, to name a few, that would be ready for Shakey’s. That kind of expansion would be very good for the company,” president and CEO Vicente L. Gregorio said.
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