MANILA, Philippines - Flavored french fries retailer Potato Corner aims to have a total of 380 local stores and 165 outlets overseas by the end of next year as it seeks to grow its business, an official said.
Potato Corner chief executive officer Jose Magsaysay Jr. told reporters at the sidelines of the opening of the Galing ng Pinoy: The 12th Filipino Franchise Show held yesterday the retailer intends to further expand its business by opening stores here and abroad.
“By the end of 2013, we want to have 350 stores in the Philippines and 65 stores in international markets,†he said.
At present, the retailer has 325 stores in the Philippines and 57 overseas in countries such as Indonesia, Malaysia, Panama and the US.
Next year, Potato Corner wants to open 30 new stores locally and 100 new outlets overseas.
While most of the new outlets to be opened overseas next year would be located in the US given the popularity of french fries there, he said the retailer also wants to establish its presence in new markets.
He revealed there are ongoing talks with partners for Potato Corner stores to be opened in Egypt, Botswana and countries in the Middle East by next year.
Potato Corner is able to expand to other countries as its product is not only targeted for the Filipino market.
“The french fries is the popcorn of the 21st century,†Magsaysay said.
Apart from opening new stores, he said the firm plans to launch four new brands next year for the business to grow.
Asked about an earlier announced plan of Potato Corner to list on the Philippine Stock Exchange, he said the firm may pursue it in two to three years, as recommended by a consultancy firm.
This, as preparations for the listing still needs to be made.
“We are still cleaning up books. We have to make sure it’s ready,†he said.