Shakey’s explores overseas expansion

MANILA, Philippines - Shakey’s Pizza Asia Ventures Inc. (SPAVI) is exploring opportunities in the Asia Pacific region as it continues to receive inquiries from overseas investors.

“There’s a couple of new markets in the works. But still exploratory,” SPAVI president Vicente Gregorio told reporters during Shakey’s 200th store opening at Paseo de Magallanes in Makati City Wednesday.

“We want to be careful in expanding international. The priority is to identify the right market and the right partner,”  Gregorio added.

Gregorio said the company is set to open one store in Kuwait by December this year. This forms part of an agreement the company signed with a Middle Eastern partner to open 10 stores over a period of seven years.

Last month, the company signed a deal with Dubai-based firm Aljeel Capital to open at least 10 stores in the United Arab Emirates in the next five years.

“There’s been a lot of inquiries and we’re excited with the interest, which is why immediately we got two prime markets signed up, which are Kuwait and Dubai,”Gregorio said.

While the brand is known to Filipinos, the menu and concept of Shakey’s is Western, which gives it an advantage to cater to a wider market range, Gregorio said.

Gregorio said the company would continue to expand its presence outside Metro Manila.

“We’re definitely excited about the potential outside Metro Manila. There’s a huge runway for the Visayas and Mindanao and northern Luzon,” Gregorio said.

Gregorio said the company continues to receive franchise applications for areas outside of Metro Manila that are not even in its  radar.