Shakey’s targets to open more stores this year
SHAKEY’S PIZZA Asia Ventures, Inc. (SPAVI) is targeting to open 15 new Shakey’s and 15 new PeriPeri Charcoal Chicken outlets in 2021.
In a regulatory filing on Tuesday, the listed company said its planned openings in 2021 is part of a network expansion strategy that was postponed last year due to the coronavirus disease 2019 (COVID -19) pandemic.
SPAVI said it ended 2020 with 245 Shakey’s restaurants, three of which are located overseas, and 34 Peri-Peri outlets.
“[The company] also launched a number of new offerings in select outlets including the ability for guests to ‘Park & Dine, ‘Park & Order, eat outdoors, and order R&B milk tea — one of the leading milk tea brands in Singapore,” the disclosure said.
According to SPAVI President and Chief Executive Officer Vicente L. Gregorio, the company’s expansion plan has adapted to maximize its in-store and out-ofstore presence as consumer habits evolved due to the pandemic.
“For Shakey’s, we are looking to further strengthen the brand’s visibility and awareness, especially in underpenetrated second and third-tier cities outside of Metro Manila. For Peri-Peri, there are still a number of unserved markets which don’t have access to the brand’s great-tasting products,” Mr. Gregorio said.
“Our new openings this year will cater not only to our guests’ dine-in preference, but also their increasing need for more convenient and flexible out-of-store options,” he added.
SPAVI said it is set to launch smaller store formats with lower investment requirements compared to its brick-and-mortar branches, which keep payback periods at a shorter time and maintain high return on capital.
The company added that it plans to build locations that have both Shakey’s and Peri-Peri brands in order to maximize its existing asset base.
Meanwhile, Mr. Gregorio said SPAVI will be introducing “ghost kitchens” or kitchen extensions to improve its delivery presence amid high demand for off-premise delivery channels. He added that the company has been piloting a “31 Minute Delivery, If It’s Late, It’s Free” guarantee in some areas in Metro Manila in the past few months.
“The company’s planned expansion for 2021 will come hand in hand with other exciting new business innovations that will maximize our existing asset base. 2021 will definitely be an exciting bounce-back year,” Mr. Gregorio said.
In January, SPAVI disclosed that it plans to open its first branch in Singapore, located at Lucky Plaza Mall along Orchard Road, as part of a seven-year franchising deal with Brenrich Pte. Ltd.
On Tuesday, SPAVI shares at the stock exchange fell 0.67% or five centavos to end at P7.44 apiece. —