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Tag: Sizzlin’ Steak

  • Max’s Group eyes more stores as profit grows

    Max’s Group eyes more stores as profit grows

    Max’s Group, the listed dining group, has reported a 12 per cent increase in profit last year as sales rose across all of its banners.

    The company recorded total income of of P561.74 million for 2016, up from P501.39 million the prior year.

    And CEO Peter H. King says better is to come this year. “We remain bullish on the pace of our global business. Our focus this year is to boost recurring income by accelerating store development. Nonetheless, we shall constantly be on the lookout for fresh territories.”

    Max’s Group’s brands include Yellow Cab Pizza, Pancake House, Sizzlin’ Steak and Max’s Restaurants.

    President  Robert F. Trota said the company was able to execute successful strategies amidst “a rapidly intensifying competitive environment”.

    “Overall, it was another productive year for us.”

    Restaurant sales rose 10 per cent to P9.42 billion driven by the opening of 77 new stores and solid same-store sales performance.

    Max’s group now has 623 stores, including 49 overseas. It is targeting 1000 outlets by 2020, 200 of them offshore, and has budgeted P750 million to P800 million to open between 60 and 70 this calendar year. It already operates stores in the UAE, the US, Singapore, Egypt, Jordan and Vietnam.

    The company’s online and delivery business performed exceptionally well last year, with revenues up 24 per cent to P1.08 billion.

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  • Pizza delivers Longfort Group’s Thailand debut

    Pizza delivers Longfort Group’s Thailand debut

    Malaysian headquartered investment company The Longfort Group has made its first acquisition in Thailand, Scoozi Italian Restaurant.

    It completed the deal through its wholly owned Vietnam-based subsidiary, L Concepts, set up in 2015 to operate food and retail concepts across Southeast Asia, starting with several Vietnam businesses.

    Scoozi is a craft pizza restaurant with 24 branches across the greater Bangkok area. Its first location opened in downtown Bangkok in 2004. It specialises in Neapolitan-style pizzas made in wood-fired ovens. Scoozi offers both dine-in and delivery formats.

    “We are excited about our foray into the Thai consumer market, especially through such an established platform as Scoozi,” says The Longfort Group CEO TW Pang. “The potential of the brand is enormous.”

    The Longfort Group is a private investment firm backed by an Asian family with a mandate to run a global investment program. It has owned and run businesses across the value chain of the F&B industry in Asia, including the manufacturing of food packaging, canned beverages, confectionery and dairy products.

    It has lately embarked upon a strategic expansion into F&B retail across high-growth markets in Southeast Asia, starting with Vietnam, where it has had a presence for 25 years. As well as Vietnam, the group has an office in Malaysia.

    L Concepts owns and runs a range of lifestyle concepts, restaurant brands and franchises including L’Usine, Namo and Sizzlin’ Steak.

  • Sizzlin’ Steak heads to Vietnam

    Sizzlin’ Steak heads to Vietnam

    Filipino corporate restaurateur Max’s Group is to launch its Sizzlin’ Steak concept in Vietnam.

    Max’s Group is the largest casual dining restaurant company in the Philippines. It owns Yellow Cab Pizza, which it recently launched in the UAE.

    Sizzlin’ Steak is an eight year old Japanese steak barbecue concept, serving steak and other meats cooked on hot plates at low price points. Barbecue style dining concepts are popular amongst Vietnamese.

    Max’s is entering Vietnam in partnership with L Concepts, a subsidiary of the Longfort Group, which focuses on developing unique dining concepts and brands in Southeast Asia.

    According to documents filed with the stock exchange in Manila, L Concepts will open a minimum of 10 Sizzlin’ Steak restaurants in Vietnam within five years. Max’s currently has 10 in metro Manila and is considering a pilot store in the US.

    Max’s Group president and CEO Robert Trota says the company plans to add at least 200 stores to its overseas network by 2020.

    “We envision to rollout our key brands outside the Philippines with strategic franchise operators. As new markets are established and momentum builds in the next few years, we expect the international portion of our business to be a significant contributor to system-wide sales and to our bottom line,” he said.

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