Max's Group accelerates international expansion.
Max's Group accelerates international expansion !-- -- Iris Gonzales (The Philippine Star) - February 2, 2019 - 12:00am MANILA, Philippines Listed Max's Group Inc. plans to ramp up its overseas store expansion this year after announcing plans to build at least 200 stores abroad by 2020. Officials said MGI is on track of hitting the target through its different partnerships abroad.
In 2015, MGI announced plans of building 1,000 outlets with at least 200 stores abroad by 2020. MGI president and chief executive officer Robert Trota said the company has been working with the right partners. "For our international franchising model to work, we had to align ourselves with formidable partners who share our vision and commitment to make our brands succeed outside of the Philippines," Trota said.
Since 2015, the company has been able to assemble a robust pipeline of 183 stores, composed of 27 development agreements with reputable partners across various cities in North America, Middle East and Asia. For 2019, MGI is focused on operationalizing its current store pipeline to further strengthen its recurring income base.
"We invested a considerable amount of time and resources to study the markets and customers prior to launching our brands. This was necessary to ensure operational stability over the long-term.
This places us in a better position to serve our customers," said Kay Lee, MGI general manager for the international segment. Lee previously served as international marketing manager for Asia Pacific of Krispy Kreme International.
"While we are encouraged with the number of inquiries for our brands from countries across the world, our efforts will be centered on expanding our store footprint in existing markets and regions. We will build MGI's brand presence globally through the implementation of strong regional team support " Lee said.
To date, MGI operates a total of 59 stores with Max's Restaurant and Yellow Cab Pizza accounting for bulk of its offshore portfolio. Its family of brands include Max's Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max's Corner Bakery, Teriyaki Boy, Dencio's, Meranti, Sizzlin' Steak, Maple, Kabisera, Le Coeur De France and Singkit.
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|Publication:||Philippines Star (Manila, Philippines)|
|Date:||Feb 1, 2019|
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