Building on last year’s momentum, Goldilocks Bakeshop, Inc., a Filipino household brand under the SM Group, is planning to build 60 new stores this year to widen customer reach.
“Aligned with the SM Group’s strategy to develop areas outside of the NCR, the Visayas and Mindanao regions offer strong growth potential as many areas there are still unserved and/or underserved,” Goldilocks chairman Frederic C. DyBuncio said on Tuesday.
“From a customer focus standpoint, we continue to be committed to their needs and wants by building 60 new Goldilocks stores, to create more delightful celebrations with our signature cakes and food offerings,” he added.
DyBuncio also concurrently serves as president and chief executive officer of SM Investments Corp.
Last year, Goldilocks opened 41 stores, which brought its total to 926 stores nationwide, with over 40 percent of new locations situated in Visayas and Mindanao.
In 2023, Goldilocks introduced new cake flavors such as Mango Dream, Rainbow Magic, Luscious Choco, and Merry Cherry Choco.
Goldilocks’s network of over 76 multi-unit franchisees nationwide to date—mostly customers who turned business owners and partners was instrumental in growing the company’s footprint to reach more customers.
SM Investments Corp. has businesses in the retail, banking, and property sectors. It also invests in ventures that capture high growth opportunities in the emerging local economy.
SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores, and specialty retail stores.
The group's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the country with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments.
SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth-largest private domestic bank.