Figaro Coffee Group Inc. is gearing up for expansion this year as it expects a healthy rebound in dine-in sales on easing mobility restrictions.
“As restrictions are coming down and pandemic is easing, the company is seeing a healthy rebound in consumer spending especially in eating out. We look forward to meeting our customers where they are and opening outlets in strategic locations close to them,” Figaro chairman Justin Liu said in a disclosure to the stock exchange.
The company, which has three stores of Angel’s Pizza in Cebu, said there is still a huge potential for expansion in the province.
“We’re really happy to have had positive feedback in Cebu. To speed up deliveries and reach our customers faster, we are still looking to further strengthen our presence in Cebu through expansion in areas surrounding Cebu City and its outskirts as well,” Figaro chief operating officer Mike Barret said.
Barret said there was a considerable increase in inquiries from customers and potential franchisees in other areas such as Cagayan de Oro, Bacolod, Tarlac, Bulacan and Iloilo.
“We believe that the brand has successfully established its regular clientele and delighted customers have been telling their friends and families about it, so everyone is looking forward to trying the products in their local areas”, Barret said.
Figaore has a store network of 111, including 56 Figaro Coffee cafes, 41 Angel’s Pizza stores, six Tien Ma’s restaurants, seven The Figaro Group Express outlets and a Café Portofino outlet.
Aside from store expansion, Figaro is also strengthening its take-out and delivery segment.
“Many customers are accustomed to the convenience of delivery, so this segment will never go away. We seek to bring a positive dine-in experience as well for all our brands, which will well complement delivery revenues. We are also in strategic discussions with select lessors and malls to potentially locate our brands,” Barret said.
