SM’s Goldilocks whips up expansion plan in 2024
Goldilocks Bakeshop, Inc., one of the SM Group’s portfolio investments, plans to increase its nationwide presence by 60 new stores in 2024.
To reach and serve more customers, Goldilocks opened 41 stores in 2023, bringing the total to 926 stores nationwide. Goldilocks looked to expand responsibly in emerging centers in the region, building on the momentum from last year with over 40% of new locations situated in Visayas and Mindanao.
“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. From a customer focus standpoint, we continue to be committed to their needs and wants by building 60 new Goldilocks stores, with the aim of creating more delightful celebrations with our signature cakes and food offerings, said Frederic C. DyBuncio, Goldilocks Chairman and concurrently President and Chief Executive Officer of SM Investments Corporation.”
In 2023, Goldilocks introduced new cake flavors such as Mango Dream ensuring celebrations during Mother’s Day are extra special, Rainbow Magic and Luscious Chocoto bring out the playfulness in Birthday occasions, and Merry Cherry Choco to capture the essence of the holidays and spruce up the typical Noche and Media Buena spreads.
Closer to our customers
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.
Beyond site assessment, the SM Group’s leading bakeshop also provides financial and entrepreneurial support, and employee training to ensure a smooth transition of the franchise’s operations said Goldilocks President Richard L. Yee.
“As their partners, we see to it that our franchisees are in the position to succeed as their success allows us to be more connected with the customers,” he added.
Goldilocks has also enhanced customer experience in the past year through collaborations with notable brands like Mobile Legends, a leading multiplayer battle arena game, to celebrate their 7th anniversary, creating a custom-themed cake that is truly OP (overpowered).
In terms of customer accessibility, the company successfully relaunched its website for deliveries allowing a seamless point of transaction across its brick-and-mortar stores to the digital space. It accounted for a considerable number of sales in delivery services.
“We take great pleasure to being a trusted brand of Filipino families for their milestone celebrations,” Mr. DyBuncio added. “In the coming year, we’ll stay true to the brand’s core values of thoughtfulness, care, and love for family to ensure an even more delightful experiences for our customers.”
