Figaro Coffee Group Inc. has opened its 200th store just as the lifestyle dining company observed its 30th anniversary.
The company opened its 199th store, a Figaro Coffee branch in Villaflor Hospital, Dagupan City and its 200th store in Angel’s Pizza Cabuyao, Laguna.
Figaro Coffee has 64 stores, Angel’s Pizza has 120, Tien Ma’s has 10 stores and Café Portofino has six.
“We still have 16 stores in the pipeline expected to open by the end of this year,” Ace Azarraga, brand and partnership director, said.
“Figaro Coffee is a proudly Filipino coffee chain and is one of the most successful to grow on a global scale. Our vision has always been to support our farmers and promote high-quality local coffee beans,” he said.
The company started with just a single store in Glorietta in Makati. Its name came from the male lead in the opera The Barber of Seville, reflecting the European and Italian inspiration behind the brand.
“The Figaro Coffee Group is not just a coffeehouse; it is a testament to the dreams of a group of passionate coffee enthusiasts who envisioned a space where people could come together to enjoy exceptional coffee and delectable pastries,” the company said.
Justin T. Liu, company chairman, said the company is focused on the expansion of its Angel’s Pizza and its potential for greater growth.
Figaro reported net income growing 133 percent in fiscal year ending June to P462.6 million from last year’s P198.2 million.
The company traced the growth to rising sales volume and efficient management of overhead costs.
