Greenwich expects sales to grow by 20% this year
By Janina C. Lim, Reporter
GREENWICH PIZZA is hoping new menu items such as chicken wings and bacon pizza, as well as a fresh new look for its stores, will drive sales 20% higher this year.
“We’re targeting to be able to grow by 20%. The compounded annual growth would be around 15-20%, but this year we’re a bit more aggressive… We’re very much on track to achieving that. Since the renovation and this new concept rolled out, we’re crediting that, with these new products to our year-on-year double digit growth,” Greenwich President Albert C. Cuadrante told reporters at its newly refurbished store along Visayas Avenue, Quezon City.
Among the new products introduced to Greenwich’s menu are Spicy Chicken Wings, Potato Wedges, and Bacon Overload pizza.
Mr. Cuadrante said Greenwich’s sales stood at “over P8 billion” last year, 15% up from 2015.
The pizza chain under Jollibee Foods Corp. is focusing on its target market, consumers aged between 25 and 35.
“We want to stay true to Greenwich’s personality of being youthful, fun, hip and trendy — making the interiors and aesthetic appeal of the Greenwich Pizzeria reflective of the brand’s DNA,” Mavel Villanueva, Greenwich retail marketing manager, said during the briefing.
As part of its strategy, Greenwich began renovating its stores with mid-century and industrial designs.
Greenwich currently has 262 branches around the country, of which 60% are company-owned and the rest are franchised. The company expects its branch network to reach “a little more than 300” by the end of 2017.
Mr. Cuadrante said Greenwich usually sees 30 new stores opened annually, but this year is expected to be an exception.
“Our expansion continues to be very aggressive and more and more we are realizing that there are still many cities [to penetrate],” the Greenwich executive said.
On plans to bring Greenwich overseas, Mr. Cuadrante said the company said will focus first on boosting its presence in the domestic market.
He said Greenwich will consider expanding in areas where parent Jollibee already has a strong presence such as the Middle East, Vietnam, Hong Kong and United States, but also assessing the area’s acceptance for pizza.
Greenwich, which claims to be the biggest pizza chain in the country in terms of store network, said it has a 30% share of the pizza market in Metro Manila, where most of its stores are located.
