Shakey’s Pizza Ventures Inc. (SPAVI) is on track to significantly boost its footprint across the Philippines, announcing plans to open one store per day as part of its aggressive expansion strategy. The company has committed to at least P1 billion in capital expenditures this year, mirroring last year’s investment, to fund its growth, primarily in the Visayas and Mindanao regions.
Vicente Gregorio, company president, emphasized that the expansion will be driven by internally generated cash, underscoring the company’s confidence in its financial position. As of the third quarter of 2024, SPAVI had already spent approximately P900 million, with plans to maintain this level of investment in the coming months. “We are growing that fast,” Gregorio remarked, noting that Potato Corner would see the most new store openings.
In 2024, SPAVI sought to open 450 stores across its diverse brand portfolio, which includes Shakey’s, Peri-Peri Charcoal Chicken, R&B Milk Tea, Potato Corner, and Project Pie. With nearly 300 Shakey’s locations among its 2,483 stores nationwide, the company is expanding rapidly beyond Metro Manila into new and untapped regions.
Gregorio sees significant opportunity for growth outside the capital, particularly in the southern provinces. “What’s good is that when we enter virgin territories, we have very successful openings,” he noted. In these new locations, the company aims to become the first legitimate casual dining experience in cities that have traditionally been dominated by fast food. “We see that there is really big growth outside of Metro Manila,” he added.
While SPAVI’s growth will be focused in the provinces, Metro Manila remains a key area for expansion, particularly in finding prime locations and enhancing delivery services. Shakey’s plans to open 20 new stores this year, with half of them being company-owned and the other half franchised. This mirrors last year’s expansion and signals strong growth prospects in the coming years.
Despite the current economic challenges, Gregorio is optimistic about the long-term potential of the company, positioning Shakey’s as a cost-effective alternative to fine dining. “Once the economy improves, that’s where we see a big upside,” he said.
