MANILA — Shakey’s Pizza Asia Ventures Inc. is hoping to increase its domestic reach in 2023.

In a stockholders' meeting on Tuesday, Shakey’s President and CEO Vicente Gregorio bared the company's goal to expand in northern Luzon and the Visayas-Mindanao area.

Shakey’s Chairman Chris Po said they see growth opportunities outside Metro Manila as trends show a number of consumers are staying online, with remote work being the new normal in some companies.

“In a recent survey, we saw that 5 percent of survey respondents are saying they’re fully remote… and they’re doing this outside low cost places outside Metro Manila, places like La Union, Zambales area," Po said.

"It’s an indicator that the world is really changing. This remote work is a habit that’s becoming sticky,” he noted.

With a P1 billion capital expenditure plan, Shakey’s plans to build 335 stores in 2023, including outlets of Potato Corner which the company acquired in 2022.

• Shakey's Pizza says to acquire french fries kiosk brand Potato Corner

Gregorio said the company is targeting a 20 percent increase in its top and bottom lines for 2023, supported by increased demand from the further reopening of the economy.

While the company says there are opportunities to expand internationally and to increase its brand portfolio, Gregorio said Shakey’s prefers to focus on domestic expansion for its existing brands.

“We are continuously finetuning the business economics. Fast growth takes a toll on human resources and we are very conscious of that and we want to make sure we grow properly,” Gregorio said.

• Shakey's net income exceeds pre-pandemic level in 2022