Where Yee goes, growth follows
PINKY T. YEE believes that getting the right people with the right mindset is key to success.
Wherever Pinky T. Yee goes, growth inevitably follows.
The graduate of the Vancouver Community College came home from Canada in 1987 to join Goldilocks when it had just eight stores.
Back then, Yee was tasked by her mother-in-law, Milagros Yee, one of the founders of the heritage brand, to open the 9th store. Fast-forward to 2015 and Goldilocks has 407 stores nationwide with the brand able to hold its own against upstart and existing food firms that want to muscle into its lucrative territory.
A big part of that growth story that started with Milagros Yee and her sister, Clarita Go, can be attributed to what she had introduced as marketing director of Goldilocks Bakeshop Inc.—a post she held for 15 years.
Her mandate in the beginning included streamlining operational procedures and preparing the company for franchising—Goldilocks’ chosen path toward expansion. In 1991, Goldilocks started accepting franchise applications.
With more Goldilocks branches opening up, it became the undisputed leader in the food and bakeshop category.
It was already quite an achievement for Yee, but even then she feared that complacency would hinder the brand from fulfilling its true potential.
Thus in 2009, Goldilocks began the long, tedious and sometimes painful process of rebranding.
“It was a 180-degree revamp. I made sure that before we launched the new logo and identity of Goldilocks, everybody, from the board to franchisers, must buy into it,” she said.
One of her tough rebranding decisions was to “killed off the girl” in the original Goldilocks logo.
She met a great deal of resistance when she proposed the bold move, but she forged ahead.
“How do you take a Philippine company and tell the world it’s a Filipino brand when there’s a blonde girl in its logo?” she remembered telling the board.
Eventually, the directors came together and agreed to making some changes.
“I had to ensure that we were committed to giving Filipinos what they deserve from a homegrown brand,” Yee said.
Top of mind
Not long after the rebranding, Goldilocks became top of mind when it came to family-oriented restaurants and celebrations.
“Our closest competitor was not even close,” she added.
Yee admitted that “a lot of her decisions were not popular.”
But she pushed through as she believed they were for the good of the company and “not for my personal interest.”
For her, Goldilocks gives her a sense of pride not only for being one of the country’s top brands but also because it taught her to look at work not as a profession but as a passion.
With Goldilocks prepared well for its next growth phase, Yee has accepted the new role of new business group director of Goldilocks Bakeshop Inc.
Her fresh mandate is to oversee new brand acquisitions, such as Domino’s Pizza and Triple-O’s Philippines.
Goldilocks acquired in 2010 the Philippine franchise to operate Domino’s Pizza through 30-30, a wholly-owned subsidiary of Goldilocks Bakeshop.
Back then, Domino’s had only 10 stores. Under Yee’s guiding hand, the chain has expanded to 21 stores.
“My new role entails that the business model of Goldilocks be translated in Domino’s. I am likewise responsible for keeping an eye out for new brands and businesses that will complement our existing portfolio,” she explained.
New challenge
With Domino’s, she faces a new challenge to modernize the operations of the pizza chain here.
“Domino’s is known to successfully transcend from a pizza company to a tech company,” she said.
In the United States and other developed countries, Domino’s is known as the top delivery expert.
“In other countries, Domino’s has a monitor in each store so the customer may see how the pizza is made. And they can even track the location of their pizza. It is always served fresh and hot. Wouldn’t it be great to implement all that here in the Philippines?” she said.
As she works on Domino’s, Yee said she would be guided by the Goldilocks philosophy of “before anything else, learn your business from your customers: Understand their minds, hearts and lives.”
Domino’s is already a 60-year-old brand but in the Philippines, it is a baby of sorts.
She believes that it is a strong brand and coupled with technology, Domino’s Pizza can still make waves in the crowded pizza sector.
It helps to know that Goldilocks and Domino’s have shared services. Domino’s pizza dough is now made by Goldilocks. Also, all of Domino’s dough-based products are made in Goldilocks’ commissary.
For Yee, it’s a wonderful thing because Goldilocks is a stickler for quality.
“Surely, Domino’s Pizza is in good hands with Goldilocks,” she stressed.
Yee envisions Domino’s becoming a hip and trendy product in the Philippines that will inform, inspire, influence and innovate.
“Domino’s is a challenger brand. In India alone, they have 800 stores. Their bestseller is the curry pizza. I want the Philippines to experience what world-class pizza is. We want to be a mover in the digital space. There is so much potential in that space,” she said.
Domino’s Pizza has set some nonnegotiable aspects when it comes to handling the brand, but Yee asked for some leeway to make some changes so that the global growth strategy will work in the Philippines.
She is grateful that the company based in Michigan has given her the flexibility to do so.
“I asked them to ‘allow us to hold your hand and tell you how to do it together,’” she said.
To those who want to learn from the example of Goldilocks and Domino’s Pizza, Yee offers sage advice.
“You have to stick to your business model and product concept. Believe in your product and stick to your blockbuster product. Remember, you cannot buy your customer’s loyalty because there are a lot of choices out there. So turn them into advocates for your product. It will help you in the long run,” she said.
