Shakey's, Peri-Peri reboot delayed expansion plans with new store openings in 2021

ABS-CBN News

Posted at Feb 23 2021 11:46 AM

Shakey's, Peri-Peri reboot delayed expansion plans with new store openings in 2021 1

MANILA - Shakey's Pizza Asia Ventures Inc on Tuesday said it would open 15 new Shakey's and 15 new Peri-Peri Charcoal Chicken outlets this year to pursue expansion plans delayed by the COVID-19 pandemic. 

The new stores will cater to the "underpenetrated" second and third-tier cities outside the metro, Shakey's told the stock exchange.

“With evolving consumer habits brought about by the pandemic, our network expansion strategy has likewise adapted to ensure we maximize both our in-store and out-of-store presence," Shakey's President and CEO Vicente Gregorio said. 

"Our new openings this year will cater not only to our guests’ dine-in preference, but also their increasing need for more convenient and flexible out-of-store options," he added.

The company said it would open smaller store formats with reduced investment requirements to ensure shorter payback periods and that return on capital remains high. 

It is also looking at locations with both Shakey's and Peri-Peri to maximize existing assets.

In 2020, the group has 245 Shakey's restaurants.