Pizza chain Shakey's expands global footprint with 430-store growth plan

Shakey's Pizza Asia Ventures Inc. (SPAVI) is charging ahead with its global ambitions, unveiling plans to add over 430 stores this year across its expanding portfolio - a move that reflects both confidence in its brand equity and a wider push to consolidate its hold in key markets, local and abroad.

The Philippine-based company, best known for its namesake pizza chain and snack giant Potato Corner, added 52 new outlets in the first quarter of 2025. Most of those were Potato Corner branches, further cementing the snack brand's role as the group's growth engine in international markets.

This is outlined in the company's most recent earnings release, where it's revealed that SPAVI currently operates 2,671 outlets worldwide, with nearly one-fifth of that footprint now located outside the Philippines.

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"Our store network expansion is on track, and we expect to pick up the pace in the coming quarters. We are also particularly encouraged by the continued progress of our international business - a new vertical that is shaping up to be a meaningful contributor to our future performance," said SPAVI president and CEO Vic Gregorio.

Same-store sales growth (SSSG) rose 2% year-on-year. However, after adjusting for the additional trading day from the leap year and the earlier Easter holidays in 2024, normalised SSSG showed a stronger 4% uplift. This performance was underpinned by product and menu enhancements rolled out in the previous year.

The quarter also marked the start of Shakey's 50th anniversary celebrations - a year-long programme featuring a series of campaigns aimed at deepening brand engagement and strengthening relevance across Shakey's diverse customer base, the company said.

The group's portfolio is an eclectic mix: the heritage brand Shakey's, now a staple in casual dining; the ubiquitous Potato Corner kiosks; and newer players such as Peri-Peri Charcoal Chicken, R&B Milk Tea, and Project Pie.

The aggressive rollout plan comes as the company maintains a bullish outlook on performance, targeting double-digit sales and profit growth through 2025 - a projection largely tied to the strength of its existing brands and continued network expansion.

SPAVI kicked off 2025 with 5.6 billion pesos (US$100.7 million) in global systemwide sales for the first quarter - a 17% year-on-year increase. Operating income rose 15% compared to the same period last year, keeping pace with the group's 14% revenue growth to 3.5 billion pesos (US$62.9 million).

"With this scale comes not only the opportunity, but also the responsibility to create lasting impact. As we pursue strategic investments that will propel our businesses forward, we remain steadfast in our aspiration to grow this business at a compounded double-digit annual growth rate for the next five years and reinforce our market leadership in the categories where we play," Gregorio said.

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