Fruitas to continue expansion next year

ABS-CBN News

Posted at Nov 06 2017 07:15 PM

MANILA - Fruitas Holdings founder and CEO Lester Yu said on Monday he plans to further expand next year.

“At the rate we are going right now, we open one new store every other day, we might accelerate it next year to one store per day,” Yu told ANC’s Market Edge with Cathy Yang.

Yu has turned Fruitas into a leader in the local food cart business with over 850 stores in its 15 year existence. He has also introduced 18 brands into the market. 

Yu was recently given the Emerging Entrepreneur 2017 award by global accountancy firm Ernst & Young and the SGV Foundation. 

“I think the EOY award is a testament that the company Fruitas Holdings is doing something right. Opening, owning and operating our own stores is the most sustainable business model, patterning after big conglomerates like Mercury drug even Jollibee,” Yu said. 

Although he is not keen on franchising, he hopes to generate more jobs to help Filipinos. With 2,000 employees, Yu said “our business is very labor intensive so I think we are contributing, even a little to the Philippine economy.”

With the success of Fruitas, Yu dreams of listing his company in the Philippine Stock Exchange.