SHAKEY’S Pizza Asia Ventures, Inc. said it launched the 50th Peri-Peri Charcoal Chicken & Sauce Bar branch in Matalino, Quezon City (QC) this month.
In a disclosure to the exchange on Monday, the listed restaurant operator said it is the 312th branch in its store network.
“Even during this pandemic, the brand has demonstrated strong performance, and all the new stores have received very strong market acceptance,” Shakey’s President and Chief Executive Officer Vicente L. Gregorio said.
“We attribute this to the distinct and very flavorful products we serve and the unique brand experience we provide, whether via dine-in or off-premise,” he added.
The restaurant chain has designed its stores to have a “bright, vibrant, and youthful store atmosphere.”
Peri-Peri is working with local mural and creative artists for its stores, which the company described as “an initiative to simultaneously build sustainable partnerships with communities” and establish the restaurant chain as “a purveyor of art and creative minds.”
Meanwhile, Shakey’s said Peri-Peri’s store formats were also designed to adapt to off-site dining. Park & Order services are also available in independent stores for to-go orders.
Peri-Peri also has a network of small-store formats, named Peri Jr. Stores, which has allowed the chain to cost-effectively expand its footprint.
Shakey’s acquired Peri-Peri in June 2019, beginning with only 23 stores in Metro Manila. Shakey’s grew Peri-Peri’s store network by more than twice in just two years.
“As we purposefully grow this brand, the focus is on building our store network and widening our reach to make the brand more accessible to its fast-growing market. This expansion is also timely due to the projected increase in demand once this crisis is over,” Mr. Gregorio said.
Peri-Peri Charcoal Chicken & Sauce Bar is the company’s second-largest restaurant chain in the country.
On Monday, Shakey’s shares at the stock exchange rose 3.33% or 0.28% to close at P8.69 apiece. — Keren Concepcion G. Valmonte
