Waterfront's food subsidiary sees bigger demand for pastry products

Waterfront Philippines Inc. (WPI) subsidiary, Food Concept, Inc., (FCI) is targeting to get at least 12 institutional accounts for pastry and baked good supplies in Cebu next year.

Waterfront's Food Concept, Inc. was formed to manage the operation of the chain's food and beverage outlets and built their individual images and explore expansion of F&B concepts outside WPI's properties.

WPI president Rexlon T. Gatchalian said the Food Concept operation is expected to be in full-blast next year, as the company is currently constructing its commissary facility to accommodate volume demand.

Currently, FCI is supplying pastry and baked goods requirement of a coffee chain. According to Gatchalian, the company is currently in talks with two big groups to supply pastry and baked goods for these outlets.

"Aside from pastry and baked goods, we are also planning to develop another product line, such as loaf, and other grocery items," Gatchalian said in an interview.

Hopefully, he said FCI will be one of WPI's biggest revenue contributors in the next few years.

Originally, FCI was developed few years back to expand its F&B expertise outside of the chain's property and set up restaurants around the metropolis. However, Gatchalian said the company realized that there is more demand for pastry and baked goods supply.

"We re-focused and realized that there is bigger demand for pastry products," he said.

Last year, the FCI engaged a multi-awarded Filipino pastry chef and facilitated the construction of its pastry commissary that would cater to growing institutional accounts.

Recently, FCI created the concept for a lifestyle Japanese restaurant called Mizu that was launched in the second quarter of this year.

The company's Food Concepts Inc., according to Gatchalian remains to be the most dynamic subsidiary.

Aside from the expansion of its FCI subsidiary, Gatchalian said WPI will also focus on three important components of the chain's operation, to improve revenue, decrease operating cost, and increase guests satisfaction.

In order to further cut off its operational expenses, WPI formulated a program to rationalize its power consumption.

"We will be working with VECO [Visayan Electric Company], and a third party provider in order to pursue our aim to save energy consumption," he said.

Energy cost covers 12 percent of the total operating expenses of WPI. Gatchalian said the property is aiming to bring down electricity cost to a digit figure.