The country’s leading casual restaurant operator Max’s Group Inc. (MGI) is bringing its Yellow Cab Pizza brand to Singapore as part of the group’s offshore expansion program.
MGI said it had signed a deal with a family-owned company, Pagh Pte. Ltd., to build at least five Yellow Cab pizza parlors in Singapore, the city-state with the highest per capita gross domestic product (GDP) in Southeast Asia.
“We are thrilled with the opportunity to bring Yellow Cab Pizza in a highly strategic market such as Singapore. We are confident that our mainstream offerings and value proposition will allow us to stay competitive alongside some of the biggest global food names,” said MGI president and chief executive officer Robert Trota.
Singapore, which has a per capita GDP of $56,200 compared to the Philippines’ less than $3,000, has a population of only about five million but its consumers have strong purchasing power and high propensity to dine out.
This is the fourth brand development agreement inked by MGI for 2016, translating to a total of 116 international stores set to be opened over the next few years.
MGI envisions operating a network of at least 200 outlets overseas by 2020.
“We found the right partner in Pagh Pte. Ltd. for this venture. We can rely on their focus and determination to deliver best quality products and genuine service to Singaporeans,” Trota added.
Pagh was set up to invest in the casual dining business. “We recognize that Yellow Cab Pizza offers a different, more exciting experience than the brands currently offered in Singapore. Singaporeans are discerning in their food experience. We are therefore confident that Yellow Cab Pizza will be the Singaporeans place of choice for American Italian casual dining,” said Pagh director Tiara Chopra.