Figaro To Move Forward With Expansion Plans In 2022

Homegrown Figaro Coffee Group, Inc. (FCG) is moving forward with its expansion plans this year following its successful listing at the Philippine Stock Exchange. FCG generated proceeds ofP767 million for its initial public offering of which a portion shall be used for its expansion program.

Photo Insert: Figaro Coffee

The company plans to open 29 Angel's Pizza outlets, 6 The Figaro Group Express multi-brand outlets, 5 Figaro Coffee shops, and I Tien Ma's Taiwanese restaurant.

"Yes, 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", said Justin Liu, Chairman of FCG.

For the first quarter, FCG is set to open five Angel's Pizza stores located namely in Lipa, Batangas, Hanston Building in Ortigas Center, Cebu City, Calamba, Laguna, and in Avida Towers Cityflex, BGC.

"The opening of outlets in BGC and Ortigas Business District is part of our optimism that the economy will come back. Furthermore, we see continued growth and strength outside Metro Manila, hence our new stores in Lipa, Cebu, and Laguna. We will continue to grow our outlets to reach our beloved customers and meet them where they are", said Liu.

As of January 21, 2022, Figaro Coffee Group operates a total of 109 stores. This includes 56 Figaro coffee shops, 39 Angel's Pizza outlets, 6 Tien Ma's Taiwanese cuisine restaurants, 7 TFG Express outlets, and 1 Café Portofino outlet.

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