LISTED Shakey’s Pizza Asia Ventures, Inc.’s (SPAVI) kiosk-based food brand Potato Corner has opened its 2,000th store as the company gears up for further growth.
The 2,000th store, located in SM Cebu, is a Potato Corner XP branch owned by franchisee Por Fin Trading Corp., SPAVI said in a statement to the stock exchange on Thursday.
The Potato Corner XP store is a new store format that features an expanded menu such as Friescream, exclusive flavors, signature beverages, and special cuts.
The store format also has a larger footprint, with a dedicated retail space for Potato Corner branded merchandising.
According to SPAVI, the 2,000th store is the second Potato Corner XP store.
The first branch of the new store format was opened in July at Glorietta, Makati.
“Apart from this being an accretive acquisition, Potato Corner also provides us with a platform to advocate entrepreneurship. We strive to build on the legacy of this brand in growing franchisees. Por Fin is actually one of our first franchisees,” SPAVI President and Chief Executive Officer Vicente L. Gregorio said.
SPAVI acquired Potato Corner in 2022 as part of bolstering its brand portfolio.
Potato Corner is available in 15 markets globally and has partnered with over 800 franchisees worldwide.
The brand recently entered the Malaysian market and has been expanding its presence in China.
Since SPAVI’s acquisition, Potato Corner has added over 700 stores and outlets to its network. The kiosk brand had 1,991 outlets in the Philippines and internationally as of the end of June.
Aside from Potato Corner, SPAVI’s portfolio consists of Shakey’s Pizza, Peri-Peri Charcoal Chicken and Sauce Bar, Singaporean milk tea brand R&B Milk Tea, and artisanal brand Project Pie.
On Thursday, SPAVI shares fell by 0.11% or one centavo to P9.49 apiece. — Revin Mikhael D. Ochave
