Foodee Global to open 70 stores in 2025, eyes IPO within 5 years

Filipino multi-brand lifestyle food and beverage group Foodee Global Concepts, which operates brands such as Tim Ho Wan and llaollao, is set to open around 70 stores this year, with a goal to go public within the next five years.

According to Foodee Global Concepts founder and chief executive officer Enrico Dee, the company is looking to end the year with about 300 stores, up from 230 at the end of 2024.

“We’re bringing in a Korean concept, a culinary studio, a Japanese concept, and a coffee shop,” he told GMA News Online in an interview on the sidelines of The Business Manual CEO Awards in Taguig City.

The company operates brands such as Tim Ho Wan, Mesa, Kam’s Roast, Hawker Chan, llaollao, Pound X Flatterie, Bench/Cafe, Sunnies Cafe, Chin’s Express, Inihaw Express, Handaan, Kain, Seoul Good, Food District Signatures on 5th, Cerveseria, Kai, Mangan, Terraza Martinez, and Cork.

Driving the expansion is the company’s frozen yogurt franchise, llaollao, which added 50 stores in 2024 and plans to add 40 more this year.

“There was a big expansion of llaollao, our yogurt brand. We opened almost 50 stores of llaollao, so it’s a big leap. We’ll end llaollao maybe with about 125 stores. Today it’s 85,” Dee said.

Dee said the company is also considering going public: “In the next five years, maybe.”

The Philippine Stock Exchange Inc. (PSE) is expecting six initial public offerings this year, including west zone water concessionaire Maynilad Water Services Inc., along with integrated casino resort Okada Manila. — VBL, GMA Integrated News