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Fruitas all set to open more community stores this year

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Food and beverage kiosk operator Fruitas Holdings Inc. on Monday said it has secured 20 more locations for its community stores and is in final lease negotiations for another 20 locations.

In its disclosure, the company said it is set to meet its target of expanding its community store network to 100 by the end of this year, from 30 as of end-2020, ahead of schedule.

“Our community stores have been positively received by our customers. Our rollout program for the year, covering at least 70 community stores and 100 kiosks, is keeping us busy, but we continue to be on the lookout for more opportunities. Our continued expansion not only allows our customers to reach us faster but also makes us an attractive distribution partner,” Lester Yu, Fruitas president and CEO, said.

Fruitas said it has opened a Soy and Bean community store in Malhacan Road in Meycauayan, Bulacan on January 21. This is the company’s first community store outside Metro Manila and Metro Cebu. It also opened its second community store of the same brand in Makati last January 29, in Island Plaza, Salcedo Village.

The next wave of community stores will cover more of Metro Manila and Cebu, and also include branches in Rizal, Pampanga, Cavite and Aklan, the company said.

Fruitas continues to enhance customer experience in community stores, offering curbside order and pickup. This allows both time-conscious and health-conscious customers to buy their products and a curated selection of products from partners without leaving their vehicle.

The company earlier said it targets to increase its income by 5 times and more than double its revenues through 2025 as the company hopes to expand its operations in the country.

The company said it has set its sights on a net income of P500 million within the 5-year period, from the current annual earnings of more than P100 million. Revenues, meanwhile, are expected to jump to about P5 billion from the P2 billion it posted in 2019.

The company said it needed to expand its network to about 2,000 locations by 2025, or double its current number of kiosks and store network.

“We are confident that we will be able to achieve or even exceed our medium-term targets. We have encountered similar challenges in the past and have overcome them by relying on our strengths. We continue to be mindful of near-term risks and fast-evolving client preferences. But we remain nimble to adjust our business model and take advantage of opportunities,” Yu said.

Read full article on BusinessMirror

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