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Jekki Pascual

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Figaro, Angels Pizza" src="https://news-workbench-api.abs-cbn.com/api/upload-raw/2024051313050/56f0c7d8a80f21f29db23d03e136691e5ca53ba5ed96da0acfd94fe43e1ac5d3.jpg" class="fr-fic fr-dib"/></figure></div><h3 dir="ltr">Figaro eyes largest slice of pizza market in PH</h3> MANILA - The Figaro Coffee Group will focus on its pizza business rather than its namesake coffee brand for now, the company’s Chairman Justin Liu said on Monday. During a press briefing, Liu said Angel’s Pizza contributed 75 percent of the Figaro group’s sales, which is why much of the company’s close to P1 billion capital expenditure for 2024 will be used for the expansion of the brand. Liu said they plan to take a big slice of the Philippine pizza market and make Angel’s Pizza the number one pizza chain in the Philippines in 5 years.“Angel’s Pizza is enjoying more of the capital because that’s where a lot of the sales, EBITDA, profit is coming from, and also the growth potential,” Liu said.Though Figaro remains the main brand of the group, Liu said it has become more challenging to expand the coffee business because competition is very stiff and a lot of coffee shops have already spouted everywhere.“Coffee is a very competitive industry and very low barrier entry. Anyone can just open a coffee shop. You see people shying away from large coffee brands na rin,’ said Liu.The company will still expand its other restaurants like Figaro Coffee, Tien Ma’s, Cafe Portofino, and Koobideh Kebabs, but focus will really be on Angel’s Pizza which is already its biggest brand. Angel’s Pizza currently has 129 branches, and 24 new stores are targeted to open this year. Meanwhile, Figaro Coffee currently has 66 branches, with 4 new stores expected to open this year. Liu added that there are also inquiries to expand the pizza business overseas.Figaro Coffee has branches in Saudi Arabia and Qatar, but Liu said there are no immediate plans to add more countries to the list for Figaro.The group is also banking on the growth of the delivery business as Angel’s Pizza grew its delivery service during the pandemic. Over 50 percent of sales of Angel’s Pizza are via delivery.The company’s first quarter revenues hit P1.3 billion, up 27 percent than in the same period last year. While its net income after tax hit P105 million in the first three months or 5 percent higher than last year. It plans to add 70 to 80 new branches this year after opening 68 new stores last year.

The Figaro Coffee Group will focus on its pizza business rather than its namesake coffee brand for now, the company’s Chairman Justin Liu said on Monday.

The Figaro Coffee Group will focus on its pizza business rather than its namesake coffee brand for now, the company’s Chairman Justin Liu said on Monday.

Figaro says focusing on pizza over coffee for now

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Figaro says focusing on pizza over coffee for now

Jekki Pascual,

ABS-CBN News

Published May 13, 2024 08:06 PM PHT

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Updated May 13, 2024 08:50 PM PHT

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Figaro Coffee

Angels Pizza

Justin Liu

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