By Bernie Cahiles-Magkilat
Leading food kiosk operator Fruitas Holdings, Inc. (Fruitas) is on track to hit the 1,000th store mark this year to achieve P2-billion consolidated revenue level from P1.58 billion last year.
Lester Yu, Fruitas Holdings, Inc. president and CEO, expressed optimism on its growth prospects for 2019 as it continues to diversify its distribution channels and maximize synergies from its recent acquisition this year.
Earlier this year, Fruitas partnered with Grab to make their products available on the delivery service platform in order to reach and serve more Filipinos in Metro Manila easily.
The company also currently supplies fresh coconut water to CocoDelivery, a new coconut water delivery provider in the National Capital Region.
“We are always finding ways to make it easier for Filipinos to access our products. We want to encourage more frequent consumption and continue to reach out to first-time customers,” said Yu.
“The evolving needs of our customer base provide an opportunity for us to expand our distribution channels.”
With the favorable economic environment and more opportunities for expansion, the company is looking at a full-year consolidated revenue of P2 billion in 2019.
In 2018, Fruitas reported P1.58 billion in consolidated revenue, a 37% increase from its P1.15-billion revenue in 2017, which was driven by network expansion and strong performance of its stores. Fruitas has added more than 150 stores since the end of 2017. Fruitas also completed the acquisition of Sabroso Lechon assets in the second half of 2018 and has already grown the number of Sabroso Lechon stores from 2 to 17 stores.
Moreover, Fruitas also recently introduced Lucky Chan, a new food kiosk concept offering Filipino rice meals in bowls.
In 2018, Fruitas started the provincial expansion of its hand-pulled noodles and Chinese delicacies concept, Shou.
The company has also strengthened its marketing thrust this 2019.