FIGARO Coffee Group, Inc. (FCG) has partnered with Kitchen City to open its first collaboration store in Pasay City, the listed food and beverage company said.
“FCG continues to expand not only opening stores but also partnering with other big companies like Kitchen City,” it said in a stock exchange disclosure on Thursday.
“Figaro Coffee remains committed to providing exceptional coffee experiences and supporting local communities,” it added.
The company said it plans to continue its expansion by collaborating with companies like Kitchen City.
Ricardo S. Abelardo, Jr., president of Kitchen City, said the café’s launch “is a celebration of long-term planning of a vision.”
“World Trade Center is one of the leading event venues, they don’t stop what they are doing right now and constantly searching for what is next,” he said, referring to the store’s site.
Kitchen City is operated by Artemisplus Express, Inc. a food solutions provider in the Philippines.
“The Figaro Coffee Group and Kitchen City have been partners since before the pandemic. Kitchen City selected FCG as its coffee provider due to the latter’s commitment to delivering quality and affordable products,” said Ace Azarraga, brand and partnership director of FCG.
Earlier, FCG said it was optimistic about its growth prospects as the company captured the market beyond its coffee brand.
For 2024, FCG earlier announced that it was targeting to open 50 to 75 stores with an investment cost of between P8 million and P13 million per store.
Currently, FCG has 192 stores nationwide across its various food brands, made up of 116 Angel’s Pizza outlets, 60 Figaro Coffee stores, 10 Tien Ma’s Taiwanese Cuisine stores, and six Café Portofino establishments.
At the stock exchange on Thursday, shares in the company gained two centavos or 3.39% to end at P0.61 each. — Ashley Erika O. Jose
