MANILA, Philippines - Thai restaurant group Mango Tree is expanding its presence in the Philippines to bring its restaurants and cafes to a total of 12 to achieve higher sales by 2015.
In an interview, Mango Tree Worldwide chief executive officer Pitaya Phanphensophon said the group wants to increase its presence here to take advantage of the country’s growing economy and attain higher sales.
“We want to expand in the Philippines because we think the Philippine economy will still grow much faster,†he said.
The economy grew 7.4 percent in the first nine months of 2013, based on the latest data from the National Statistical Coordination Board.
Mango Tree holding group Exquisine System Co., Ltd.’s managing director Trevor MacKenzie said in the same event that as the economy grows, the disposable income of Filipinos is also seen to increase, which would encourage them to try new cuisine.
The group currently has four restaurants in operation in the Philippines such as the flagship Mango Tree Restaurant in Bonifacio Global City in Taguig City, two Mango Tree Bistros located in Trinoma in Quezon City and in Greenbelt 5 in Makati City, and the COCA Restaurant in SM Aura in Taguig.
Mango Tree Restaurant and Mango Tree Bistro both serve Thai cuisine, while COCA Restaurant offers Thai-Chinese food.
To start its expansion, the group is set open two COCA Cafe outlets with one to be located in SM Jazz in Makati and the other in SM South Mall in Las Pinas City later this month.
MacKenzie said the group is currently looking at Cebu, Davao and Baguio as locations for its new outlets.
He said the group sees potential in the three locations given the mix of businessmen and tourists there.
“Thai food is exotic and we know that Filipinos are used to eating Filipino food so we are careful in choosing the locations,†he said.
He added that the new restaurant or cafe brands to be opened would depend on what is seen suitable for the location.
As the group expands its presence in the country, it expects to attain an annual turnover of P300 million by 2015 from the current P150 million.