Goldilocks expanding footprint to nearly 1K stores

By Meg J. Adonis@MegINQ

May 11, 2024 12:00:00

Food retailer Goldilocks Bakeshop Inc., part of the portfolio of Sy family-led conglomerate SM Investments Corp., is nearing the 1,000-store mark this year, driven by the expansion of franchises.

The 57-year-old bakeshop brand on Friday said it planned to roll out 30 franchise-owned stores within the year. Of these, SM Investments said six had already been opened so far.

This brings the total store network of Goldilocks to 932, of which 366 are franchise-owned.

“Each of our franchisees is deeply embedded in their communities and this intimate local knowledge is crucial because it allows each bakeshop to feel less like a chain and more like a neighborhood store,” Goldilocks chief operating officer Jerson Go Uy said in a statement.

Earlier, Goldilocks announced that it aimed to open 60 new branches and franchises within 2024, to end the year with 986 total stores. INQ