2022 Figaro Coffee Group Expansion Going Strong
Following the Figaro Coffee Group's (FCG) recent initial public offering (IPO), the company is now on the move to multiply its local store presence in order to cater to more Filipinos nationwide.
Photo Insert: Although Angel's Pizza has seen a successful resurgence and has steadily enjoyed mainstream popularity, the company sees more potential.
Currently having a store network of 111 —composed of 56 Figaro Coffee cafes, 41 Angel's Pizza stores, 6 Tien Ma's restaurants, 7 The Figaro Group Express outlets, and 1 Café Portofino outlet, this fast-growing local food conglomerate is definitely far from slowing down.
FCG's Chairman, Justin Liu says, "As restrictions are coming down and pandemic is easing, the company is seeing a healthy rebound in consumer spending especially in eating out. We look forward to meeting our customers where they are and opening outlets in strategic locations close to them."
While the company already had 2 Angel's Pizza outlets in Cebu, the company still believes there is more potential, therefore it has opened another branch early this year along the busy V. Rama street in Cebu City, for a total of 3 stores in Cebu as of the moment.
FCG's COO, Mike Barret, shares, "We're really happy to have had positive feedback in Cebu. To speed up deliveries and reach our customers faster, we are still looking to further strengthen our presence in Cebu through expansion in areas surrounding Cebu City and its outskirts as well."
Barret also discloses that there has been a considerable increase in inquiries from customers and potential franchisees in regions such as Cagayan de Oro, Bacolod, Tarlac, Bulacan, and Iloilo, where the company also recently opened its 2nd branch in Tagbak, Iloilo City, to good reception.
"We believe that the brand has successfully established its regular clientele and delighted customers have been telling their friends and families about it so everyone is looking forward to trying the products in their local areas", Barret adds.
In addition, FCG's strong tie-up with Grabfood continues through constant communication, sharing of analytics, and positioning in locations where Grab has a strong presence.
Having increased its sales in delivery last year, FCG is also strengthening its positioning in the dine-in and take-out segment to capture the strong foot traffic due to the loosening of restrictions. The majority of FCG's Figaro Coffee and Tien Ma's branches are now seeing stronger dine-in traffic while delivery is still going strong.
"Many customers are accustomed to the convenience of delivery so this segment will never go away. We seek to bring a positive dine-in experience as well for all our brands, which will well complement delivery revenues. We are also in strategic discussions with select lessors and malls to potentially locate our brands," adds Barret.
The company continues to go strong and has upcoming store grand openings lined up in Lipa, Batangas, Ortigas business district, BGC, Taytay, Rizal, Bacolod, Quezon City, and others. The Figaro Coffee Group trades with the ticker symbol FCG on the Philippine Stock Exchange.