SMIC eyes 60 new Goldilocks stores

February 21, 2024 | 12:00am

MANILA, Philippines — SM Investments Corp. (SMIC) is poised to put up more Goldilocks stores nationwide this year to bring its total store count to 986 by yearend.

After opening 41 stores in 2023, Goldilocks Bakeshop Inc., one of the SM Group’s portfolio investments, plans to add 60 new stores this year.

SMIC said Goldilocks is looking to expand responsibly in emerging centers in the region, building on the momentum from last year with over 40 of new locations situated in Visayas and Mindanao.

Goldilocks has 926 stores nationwide as of end-2023.

“Aligned with the SM Group’s strategy to develop areas outside of the NCR, the Visayas and Mindanao regions offer strong growth potential as many areas there are still unserved and/or underserved,” Goldilocks chairman and concurrently SMIC president and CEO Frederic DyBuncio said.

“From a customer focus standpoint, we continue to be committed to their needs and wants by building 60 new Goldilocks stores, with the aim of creating more delightful celebrations with our signature cakes and food offerings,” he said.

DyBuncio said Goldilocks is committed to stay true to the brand’s core values in the coming year to ensure an even more delightful experiences for its customers.

Goldilocks has a network of over 76 multi-unit franchisees nationwide to date.

Goldilocks president Richard Yee said beyond site assessment, the company also provides financial and entrepreneurial support and employee training to ensure a smooth transition of the franchise’s operations.

“As their partners, we see to it that our franchisees are in the position to succeed as their success allows us to be more connected with the customers,” Yee said.