Shakey’s rides growth wave, expands to Laos, Taiwan
Po family-led food retailer Shakey’s Pizza Asia Ventures Inc. expects to sustain business growth of at least 10 to 15 percent each year, riding the Philippine economic momentum while breaking into promising new markets like Taiwan and Laos.
And while its current portfolio—which includes flagship Shakey’s Pizza, Potato Corner, Peri-Peri Charcoal Chicken and Sauce Bar and Project Pie—is seen enough to fuel double-digit growth in the next five years, the group isn’t closing its doors to new acquisitions.
“We are always open when the opportunity presents itself, if something comes along with the right fit with our portfolio, and we have the ability to win and, of course, at the right valuation because we have to be responsible stewards of our shareholders’ capital,” Shakey’s Asia president Christopher Po said in a press briefing after the company’s stockholders’ meeting on Thursday.
The group aspires to grow the business at a double-digit pace each year beyond 2025, sustaining the pace seen in the last three years.
“If the Philippine economy continues to chug along at five, six, or even over 6 percent GDP (gross domestic product) growth, we think that we should be growing double digit, 10, 15 percent or even more,” Po said.
The international segment now contributes about 20 percent of systemwide sales coming from 15 markets. Flavored fries chain Potato Corner alone has 400 overseas stores.
This year, Shakey’s plans to open a total of 420 new stores across various brands here and abroad. In 2024, its total network reached 2,619 outlets.
Shakey’s president Vicente Gregorio Jr. noted that late last year, a franchising deal had been signed to bring Potato Corner to Malaysia.
In only a few months since then, he said the partner—the same franchise holder in Thailand—was able to roll out more than a dozen stores.
“So I think this is a clear indication that we have partners, long-term partners, who remain very confident and supportive of our brand, Potato Corner … and we have already identified and finalized two more Asian markets,” Gregorio said.
“We’re looking at Taiwan and Lao. These are two exciting markets we believe would have some also some ability to scale. These are also for Potato Corner,” he said.
It’s “with a lot of national pride” that Shakey’s is taking its brands to different markets overseas, Po added.
“The other thinking here is that it diversifies us geographically. Now we won’t be totally reliant on the Philippine market and we will be able to take advantage of growth opportunities in other parts of the world,” Po said.
It makes sense even from a financial standpoint, as this strategy diversifies the group’s currency earnings, he added.
“The peso can be volatile in certain times. It’s also good to have non-peso-related revenue. So it’s quite strategic for us,” Po said.
Asked how big the group expects the international segment to grow, Po said: “We haven’t quite set a number to target, because we’re doing it organically and we’re doing it methodically also. Suffice it to say that the international business is growing faster than the domestic business, given that the runway is still wide, So I think over time you’ll see that 20 percent number (contribution) increase. But our focus is doing it organically with our own brand.”
