Eight8Ate, the food arm of Udenna Corp., sees revenue growth of about 12 percent driven by continues expansion of its Conti’s and Wendy’s brands. Joey Garcia, Eight8Ate chief executive officer, told reporters the company eyes a 5 percent growth in same-stores sales.
Garcia said Eight8Ate is opening six stores of Conti’s and 15 branches of Wendy’s to bring total store count to 80 and 86 to 90, respectively by the end of 2024.
Garcia said the company is focused on strengthening the two brands and establish presence in Visayas and Mindanao.
For Conti’s which contribute 60 percent of total company revenues, Garcia said the strategy is to limit the number of stores and renovate existing stores.
He said the company will renovate 8 branches, spending P2 million to P3 million for each.
All stores are company-owned.
For Wendy’s, some stores to be opened are franchises.
Garcia said Eight8Ate has no plans to go public nor acquire new brands or go international at the moment.
“(Eight8Ate) is a young company. There is still a lot of opportunities here for Conti’s and Wendy’s. We’ve just been studying the US market but there are no specific plans,” Garcia said.
The company has a third concept, Better Coffee, which operates four kiosks.
