MANILA, Philippines — Goldilocks Bakeshop, owned by the Sy family conglomerate SM Investments Corp., is nearing the 1,000th store mark as it detailed expansion plans for the year.
For 2024, Goldilocks will open 60 new stores to end the year with 986 branches, a statement on Tuesday showed. This marks a step up from the 41 stores it opened in 2023.
“Goldilocks looked to expand responsibly in emerging centers in the region, building on the momentum from last year with over 40 percent of new locations situated in Visayas and Mindanao,” the company said in a statement.
Growing regional presence
Frederic DyBuncio, chair of Goldilocks and president and CEO of SM Investments Corp., said the move was aligned with the group’s strategy to grow its regional presence.
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“From a customer focus standpoint, we continue to be committed to their needs and wants by building 60 new Goldilocks stores, with the aim of creating more delightful celebrations with our signature cakes and food offerings,” he said.
Goldilocks accelerated its expansion with the help of 76 multi-unit franchisees.
The company also provides financial and entrepreneurial support and employee training for franchisees, said Goldilocks president Richard Yee.
Financial, entrepreneurial support
“As their partners, we see to it that our franchisees are in the position to succeed as their success allows us to be more connected with the customers,” he said in the statement.
Goldilocks earlier relaunched its website for deliveries—a growth area that boosted sales.
“We take great pleasure in being a trusted brand of Filipino families for their milestone celebrations,” DyBuncio said.
“In the coming year, we’ll stay true to the brand’s core values of thoughtfulness, care and love for family to ensure even more delightful experiences for our customers,” he added. INQ