Max's Group to open more stores in PH, overseas

ABS-CBN News

Posted at Dec 12 2014 12:57 PM | Updated as of Dec 12 2014 09:25 PM

MANILA, Philippines - Max's Group is planning to open more stores in the country and overseas next year, mostly for its key brands Max's, Pancake House, Yellow Cab and Krispy Kreme.

In an interview on ANC, Max's Group president Robert Trota said the strategic expansion will boost the company's revenues next year, amid heavy competition.

The Max's Group raised P3.5 billion from its follow-on shares offer today, for its capital expenditures, expansion and debt payments next year.

"For 2015, we plan to roll out 68 stores, a combination of Max's, Pancake House, Yellow Cab and Krispy Kreme... But the primary expansion is the star brands," Trota said.

For its overseas expansion, Max's Group said they plan to open 10 new stores -- 3 in North America, 5 in the Middle East and 2 in Malaysia.

"Abroad, we're planning to roll out 10 new stores in the US, Middle East and Malaysia, so we are using Max's, Pancake and Yellow Cab to expand abroad," he added.

The first Yellow Cab restaurant will open in Saudi Arabia in the first quarter of 2015, Trota said.

Max's Group currently has 15 stores overseas, including 12 in North America and 3 in the Middle East.

The Max's Group is targeting Filipinos, many of whom have resided abroad for more than 20 years.

In the Philippines, there are 110 Yellow Cab outlets. Max's Group is planning to open 20 new outlets in malls in 2015, mostly in SM malls.