Fresh from IPO, Figaro group sets out to introduce new stores, products
Armed with P767-million proceeds from its stock market debut, retailer Figaro Coffee Group (FCG) Inc. has lined up new stores across various brands as well as new products, such as keto food options in its Figaro coffee shops to capture demand for healthier products.
FCG plans to open 29 Angel’s Pizza outlets, six The Figaro Group (TFG) Express multibrand-outlets, five Figaro Coffee shops and one Tien Ma’s Taiwanese restaurant this year, banking on improved foot traffic with the easing of domestic mobility restrictions.
“[We] are optimistic that the economy will further improve this year with the alert levels coming down and vaccination drives by the government continuing with strength. We look forward to people going about their daily lives outside gradually and in a safe manner,” FCG chair Justin Liu said in a press statement on Friday.
For the first quarter alone, FCG is set to open five Angel’s Pizza stores in the following locations: Lipa, Batangas; Hanston Building in Ortigas Center; Cebu City; Calamba, Laguna, and Avida Towers Cityflex, Bonifacio Global City.
As of Jan. 21, the group operates a total of 109 stores: 56 Figaro coffee shops, 39 Angel’s Pizza outlets, six Tien Ma’s Taiwanese cuisine restaurants, seven TFG Express outlets and one Café Portofino outlet.
Meanwhile, increasing consumer preference for healthier food options has prompted the group to develop keto-friendly pastries in its Figaro Coffee branches.
“With proper focus on key ingredients and taste, it is very possible to offer healthy as well as delicious products,” Liu said.
