Pizza chain Shakey‘s is planning to open 20 new restaurants in the Philippines this year, bringing its total network to 228.
“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,” said Shakey’s President Vicente Gregorio.
Shakey’s ended 2017 opening 24 new stores, including those in provincial locations such as Iligan, Puerto Princesa, Antique, Gapan and Palo, Leyte, amid the growing urbanisation trend in such areas.
“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. We have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy,” said Gregorio.
Shakey’s currently maintains market leadership in both the full service and pizza chain categories.
Apart from the Philippines, the company also owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.
It reported that recurring net income for the first nine months of 2017 grew by 15 per cent against the comparable period in the previous year.
System-wide sales also rose by 15 per cent, driven by same store sales growth of six per cent and an expanding local store network.
Shakey’s Pizza was founded in Sacramento, California, in 1954 by Sherwood “Shakey” Johnson and Ed Plummer. Johnson’s nickname resulted from nerve damage following a bout of malaria suffered during World War II.
The brand became a well-established franchise in the Philippines, where it began in 1975 under the ownership of the country’s largest food conglomerate, San Miguel Corporation, primarily promoting their San Miguel draft beer. Beginning with a restaurant on Makati Avenue in Makati, the brand expanded rapidly in Metro Manila, with most of the restaurants offering live music.