Figaro Group on track to reach 150-store target

Currently, the group has 30 new stores under construction.

The Figaro Coffee Group (FCG) is on track to reach its target to open a total of 150 branches in the Philippines by the end of the year. 

At present, the Group has 120 existing branches across its brands – Angel’s Pizza, Figaro Coffee, and Tien Ma’s Taiwanese Cuisine; and 30 more outlets under construction. 

“The gradual reopening of the economy gave us the confidence to aggressively expand our presence in more areas in the country,” FCG Chairman Justin Liu said. 

The 30 new outlets are located in Metro Manila, Bulacan, Cavite, Cebu, and Laguna. 

Liu said the Group sees high demand in Metro Manila, but areas outside the region also showed a huge potential for growth. 

Moreover, the Group will also be building more commissaries in the country to support its new stores. 

In the third quarter of the year, FCG will be completing its Cebu commissary and the expansion of its Metro Manila hub. 

Early this year, the Group launched its initial public offering, which generated some P767m.