Figaro group expanding as economy reopens

Figaro Coffee Group (FCG) is gearing up to expand its local store presence in order to cater to more Filipinos nationwide as the economy reopens further.

In a disclosure to the Philippine Stock Exchange, the firm said it has upcoming store openings lined up in Lipa, Batangas; Ortigas business district; Bonifacio Global Cituy; Taytay, Rizal; Bacolod; Quezon City; and others.

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FCG currently has a store network of 111 —composed of 56 Figaro Coffee cafes, 41 Angel’s Pizza stores, 6 Tien Ma’s restaurants, 7 The Figaro Group Express outlets, and 1 Café Portofino outlet.

“As restrictions are coming down and pandemic is easing, the company is seeing a healthy rebound in consumer spending especially in eating out,” said FCG Chairman Justin Liu.

Figaro Coffee Group Chairman Justin Liu

He added that, “We look forward to meeting our customers where they are and opening outlets in strategic locations close to them.”

The firm is also venturing out of Metro Manila. While it already had two Angel’s Pizza outlets in Cebu, FCG still believes there is more potential, therefore it has opened another branch early this year along the busy V. Rama street in Cebu City, for a total of 3 stores in Cebu as of the moment.

“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,” said FCG Chief Operating Officer Mike Barret.

He noted that there has been a considerable increase in inquiries from customers and potential franchisees in regions such as Cagayan de Oro, Bacolod, Tarlac, Bulacan and Iloilo, where the company also recently opened its second branch in Tagbak, Iloilo City, to good reception.

“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 added.

In addition, FCG’s strong tie-up with Grabfood continues through constant communication, sharing of analytics and positioning in locations where Grab has strong presence in.

Having increased its sales in delivery last year, FCG is also strengthening its positioning in the dine-in and take-out segment to capture the strong foot traffic due to loosening of restrictions.

A majority of FCG’s Figaro Coffee and Tien Ma’s branches are now seeing stronger dine-in traffic while delivery is still going strong.

“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,” said Barret.

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