Gokongwei investment in Shakeys bears fruit

Published December 14, 2021, 2:43 PM

by James A. Loyola

The Gokongwei family’s investment in Shakey’s Pizza Asia Ventures Inc. is resulting in synergies between the Gokongwei’s retail business and the restaurant chain.

In a disclosure to the Philippine Stock Exchange, Shakey’s announced plans to reopen Project Pie at Shopwise Hypermarket branches. Shopwise was was part of Gokongwei-led Robinsons Retail Holdings, Inc.’s acquisition of Rustan’s Supercenters Inc. in 2018.

shakeys logo

The partnership will start with the opening of Project Pie at Shopwise Hypermarket in Makati. The new store at Shopwise, Makati marks the rebirth of Project Pie in the country.

Project Pie is an artisan pizza concept brought to the Philippines in 2013. The chain is well-known for its do-it-yourself pizzas.

Project Pie Logo

“We are delighted to reopen Project Pie at Shopwise. It is a well-loved brand with a solid patronage clamoring for us to bring it back,” said Shakey’s President Vicente Gregorio.

He added that, “We are launching with a couple of stores, Antipolo and Makati, and are looking to build another handful of outlets next year.”

shopwise

“Our store formats are designed to capture specific dining occasions. Nowadays, family shopping trips to the supermarket are often accompanied by eating out. Situating in a hypermarket with a high foot traffic is a great way to provide this captured market a convenient dining option. We believe that Project Pie is perfect for this occasion,” Gregorio said.

This year, RRHI has embarked on a store modernization program for its outlets to elevate the guest’s shopping experience through a facelift of the outlet and the premiumization of Shopwise’s products, services, and food selections.

“We’re making a lot of changes to reposition Shopwise to become the go-to premium hypermarket for shoppers, and our direction is headed towards making shopping more enjoyable,” said Shopwise Managing Director Stanley Co.

He added that, “Aside from the diversity of our merchandise and up dating the look of our stores, our partnership with Shakey’s for Project Pie is a collaborative effort to achieve this, and we are happy to be part of Project Pie’s reintroduction to the market.”

RRHI President Robina Gokongwei-Pe

RRHI President Robina Gokongwei Pe said “Pizza is immensely popular among Filipinos, and we are excited for the launch of Shakey’s Project Pie in Shopwise. The concept of an artisan and upscale pizzeria is very much in line with our strategy to reinvigorate our hypermarket to serve customers better through delightful complements to their shopping experience.”

“As we are seeing more consumer confidence to do their shopping in person, we want to welcome them back with unique offerings that make their time enjoyable and worthwhile when they visit our stores,” she noted.

Gregorio said “The Project Pie concept fits the revamping of Shopwise quite well. It delivers a unique guest experience – fun and modern yet artisan and upscale. We are very pleased to work with the Gokongwei group in bringing this brand to life.”

Earlier this year, Shakey’s welcomed the entry of a strategic investor, JE Holdings, a private investment company of the Gokongwei family. JE Holdings has diverse interests across several industries – banking and retail among others, presenting a wide array of potential synergies with Shakey’s.

“We look forward to creating more synergies with the Gokongwei group, especially as we enter this reopening period. The company has a strong balance sheet and demonstrates healthy cash generation. Pizza is in a good financial position to accelerate growth and take advantage of organic and inorganic opportunities that may arise,” Gregorio said.

 
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