Goldilocks Bakeshop, Inc., one of the companies in the portfolio of SM Group Investments Corp., plans to further expand its nationwide foot print by opening 60 new stores in 2024.
The bake shop and restaurant opened 41 stores last year, bringing the total to 926 stores. Over 40 percent of new locations situated in Visayas and Mindanao.
“Aligned with the SM Group’s strategy to develop areas outside of the National Capital Region, the Visayas and Mindanao regions offer strong growth potential as many areas there are still unserved and/or underserved. 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,” Frederic C. DyBuncio, Goldilocks chairman and concurrently president and chief executive officer of SM Investments.
In 2023, Goldilocks introduced new cake flavors such as Mango Dream ensuring celebrations during Mother’s Day are extra special, Rainbow Magic and Luscious Choco to bring out the playfulness in Birthday occasions, and Merry Cherry Choco to capture the essence of the holidays and spruce up the typical Noche and Media Buena spreads.
Goldilocks’s network of over 76 multi-unit franchisees nationwide to date—mostly customers who turned business owners and partners was instrumental in growing the company’s footprint to reach more customers.
Beyond site assessment, the SM Group’s leading bakeshop also provides financial and entrepreneurial support, and employee training to ensure a smooth transition of the franchise’s operations, said Goldilocks President Richard L. Yee.
“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 terms of customer accessibility, the company successfully relaunched its website for deliveries allowing a seamless point of transaction across its bricks-and-mortar stores to the digital space. It accounted for a considerable number of sales in delivery services.
