Max’s focuses on ‘familiar’ markets
Max’s Group Inc., one of the country’s largest restaurant chain operators, plans to focus international operations on the Middle East, Asia and the United States, and keeps new markets like Europe off the table unless it finds a suitable partner.
Max’s officials Thursday said the group, behind iconic Filipino brands Max’s Restaurant and Pancake House, was still on track to hitting 1,000 stores by 2020, with 200 of those located overseas.
Max’s president Robert Trota said at the sidelines of the company’s annual meeting that the group was seeking to grow “on a stronger base” overseas and strengthen its presence in familiar markets before venturing elsewhere.
The company, which also owns the popular Yellow Cab pizza chain, had 577 branches as of March 2016, with 37 located overseas, including those in the United States and Canada. More recently, it opened stores in the Untied Arab Emirates and Qatar.
Max’s Group has a pipeline of 130 stores in overseas locations such as China, Jordan, Singapore and Egypt.
“The focus is the Middle East, Asia and North America,” Trota said.
Max’s Group reported a net income of P501.4 million in 2015, coming off a P66.2 million loss a year before. Earnings this year were seen as “positive,” Max’s Group chief financial officer Dave Funetebella said Thursday.
