Singapore-based Koufu Group is taking R&B Tea to the Philippines with Shakey’s Pizza.
Under the franchise agreement, Shakey’s will sell selected R&B Tea drinks in Shakey’s and Peri Peri stores in the first year of business, and subsequently open at least five stand-alone R&B Tea outlets in the Philippines.
“This marks our second milestone this year, following the acquisition of Deli Asia Group, despite the challenging market conditions from the impact of the Covid-19 pandemic,” said Pang Lim, executive chairman and CEO at Koufu.
“We have carefully considered the market trends and found the conditions in the Philippines to be favourable, [with] a growing receptiveness towards the bubble-tea culture in recent years.”
R&B Tea is one of Asia’s most popular bubble-milk tea brands, operating more than 1000 outlets across China, the US, Singapore, Cambodia, Vietnam, Malaysia and Indonesia.
“This co-branding initiative is likewise in line with our renewed focus on out-of-store consumption, enhancing sales through these channels with minimal additional investment and maximising the use of our existing assets,” said Vicente Gregorio, president and CEO of Shakey’s.
Gregorio is confident the bubble-tea sector can create a third pillar of growth for Shakey’s.
Shakey’s is the Philippines’ largest casual dining restaurant brand with more than 200 outlets. Last year, the company acquired Peri Peri Charcoal Chicken brand.