While most businesses have cut their sales targets this year, The Pizza Company expects a bigger slice of the action.
The company has revised its projected sales growth to 20% this year, after first-quarter sales rose by 15%, surpassing its previous 10% target.
New products, especially the square-shaped X-Pan pizza, have been helping the business grow since their launches earlier this year, according to marketing vice-president Wichai Pornpratang.
”The market response is good and it [the X-Pan pizza] contributes more than 50% to current total sales,” he said.
The Pizza Company operates under the umbrella of the Minor Food Group (MFG), which also operates Swensen’s, Sizzler, Dairy Queen and Burger King. MFG recorded sales of 2.4 billion baht last year.
The Pizza Company has a 66% share of the 3.6-billion-baht pizza market in Thailand. Of its total revenue, restaurant sales represent 40%, delivery sales 40% and take-away 20%.
According to Mr Wichai, The Pizza Company plans to spend about 100 million baht to open 30 new outlets this year, bringing the nationwide total to 190, and refurbish existing branches.
He said some of the new outlets would open as franchises. Of the outlets, branches in Bangkok contributed 70% of total sales with upcountry the rest.
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