MANILA, Philippines – Shakey’s Pizza Asia Ventures Inc. (SPAVI) plans to sustain its P1 billion capital expenditure (capex) level in 2025 as the food and beverage giant aims to open one store a day, spanning its brands from Shakey’s to Peri-Peri Charcoal Chicken, Potato Corner, and others.
According to its president and chief executive officer Vicente Gregorio, SPAVI currently has 2,483 stores across all brands and nearly 300 Shakey’s locations nationwide. 342 of these stores were opened in the first nine months of 2024.
As of the third quarter of 2024, SPAVI’s international stores comprised 15% of its network.
Gregorio said SPAVI sees growth opportunities in the Visayas and Mindanao regions, as Shakey’s is still most present in Metro Manila and Luzon.
“There are still great locations that can also further enhance our network and our delivery capabilities,” he said during a press conference on Thursday, March 20.
Gregorio earlier said Potato Corner will lead its expanding network in the Philippines and abroad given the high volume of franchisee applications.
In September 2024, SPAVI approved the incorporation of an American subsidiary to operate Potato Corner franchises in the United States.
“We’re just putting up the foundation to capitalize and optimize the growth opportunities there, which we believe is big,” Gregorio said.
Shakey’s opened its first store in the Philippines in 1975, becoming the country’s first pizza parlor chain.
“While it had its hey days in the 80’s where it came to be known for live music and late-night crowds, it is and will always be a place where guests can get delicious pizza, enjoy good company with family and friends, and experience great service,” Gregorio said in a statement. – Rappler.com