Figaro Coffee

Figaro Coffee Company
Formerly
 "F" store (1993)
Industry Coffee shop
Founded November 1993 (1993-11)
Glorietta, Makati, Philippines
Number of locations
 55 (2013)
Products
  • Coffee beverages
  • Fine meals
  • Pastries
  • Dessert
Website www.figarocoffee.com/ Edit this on Wikidata

The Figaro Coffee Company (Figaro) is a Philippine coffee company and coffeehouse chain. Figaro works on the franchise model. As of September 2013, it had 55 outlets in Philippines, Saudi Arabia and Papua New Guinea. The company does not own roasting facilities, but rather employs the facilities of a sister company, Boyd’s Coffee Company.[1]

History

Philippine Ambassador to Qatar Wilfredo C. Santos (2nd from right) and Cultural Attaché John Danilo G. Jiao (3rd from left), together with the Filipino and expatriate staff members of Figaro in Qatar during the 2016 opening of a Figaro Coffee Shop in Doha.

Figaro was established in November 1993 by seven college friends[2] (including Pacita "Chit" Juan, who was the CEO of Figaro, and Reena S. Franciso, who became its COO till 2008) as a small kiosk in Glorietta mall (Makati, Manila) selling fresh ground coffee and tea paraphernalia. Two of the founders, including Pacita Juan and Reena S. Franciso Pacita, were classmates at the University of the Philippines, where Pacita had studied Hotel and Restaurant Administration. Pacita in her family business and then decided to start a coffee shop, something that she had earlier dabbled with while still in college.[3][4] The first outlet was called the "F" store and employed one managing partner and two employees.[5] The shop had coffee and tea paraphernalia including fresh ground coffee beans. After a few trying initial months, the owners decided to give the coffee shop a name. In April 1994, the founders chose the name "Figaro", inspired by the opera Barber of Seville, thus Figaro was born.[6] Pacita and her friends wanted to set up a place where "Filipinos can get the perfect coffee and all the necessary accoutrements for coffee making”.[7] Pacita subsequently became the CEO of Figaro, a position she retained till 2008 when the chain was sold to Jerry Liu, a Taiwanese businessman. Jose Fernando Alcantara took Pacita's place in 2008, followed by CrisMel Verano in 2009.[8] Reena remained the Chief Operating Officer till 2008.

In 1998, Pacita met Father Roger Bagao, a coffee farmer and priest from Tagaytay City who headed a farmers' coffee cooperative. In 1999, Figaro introduced Cafe Barako, as part of the "Save the Barako" campaign. Around the same time, the Figaro foundation was set up, to help coffee farmers grow coffee profitably. In 2002, while at Figaro, Pacita became the President of the National Coffee Development Board (now Philippine Coffee Board Inc). After Figaro, Pacita went on to set up ECHOstore.[9] In 2005, Figaro opened its first overseas outlet in Shanghai. By mid-2006, Figaro had grown to 53 outlets, most of which were in Metro Manila, with two in Baguio and one in Davao. In 2006 (and again in 2009), Figaro voiced plans on an IPO in Makati Stock Exchange; however, those did not materialise. In December 2006, Figaro opened its first branch in Cebu city, and opened another 12 stores in 2007.[10] 2008 marked a turning point for Figaro, as Pacita and Reena left it, while the Tanseco family became its majority shareholders.[11] In 2009, the company underwent financial restructuring and closed some of its overseas branches.[12]

Some trademarks of Figaro continue to be owned by Pacita and are currently contested in court.[13] In the same year, Figaro began to experiment in retailing and exporting organic coffee.[14]

In April 2013, the franchisee manager of Figaro, Mike Barret, informed the media of their intent to open outlets in Fiji and Vietnam.[15][16][17]

See also

References

  1. ↑ Nuguid-Anden, Charmaine. Figaro Coffee Company Case Study (PDF). UK: U.N Volunteers - New Academy of Business. p. 4.
  2. ↑ "Profile and past jobs - Reena Francisco". Linked In. Retrieved 5 September 2013.
  3. ↑ Sanford, Alpha Miguel (13 October 2012). "Success story : Pacita Juan, entrepreneur". A.M.S Daily. Retrieved 5 September 2013.
  4. ↑ "Figaro - Official facebook page". Facebook. Retrieved 5 September 2013.
  5. ↑ "Figaro Coffee Shop". www.franphil.com. Retrieved 5 September 2013.
  6. ↑ "About Figaro Coffee Company". Official website - Figaro. Retrieved 5 September 2013.
  7. ↑ Nuguid-Anden, Charmaine. Figaro Coffee Company Case Study (PDF). UK: New Academy. p. 3.
  8. ↑ Reyes, Mary Anne (28 August 2011). "Row at Figaro". Phil Star. Retrieved 6 September 2013.
  9. ↑ Ravanona, Anne (2012). "Interview with Pacita Juan". Global Leader Post. Retrieved 5 September 2013.
  10. ↑ Felix, Rocel (28 August 2006). "Figaro Coffee prepares for initial public offering". Phil Star. Retrieved 6 September 2013.
  11. ↑ "Figaro all set for expansion". GMA Network. 24 February 2009. Retrieved 6 September 2013.
  12. ↑ Go, Marianne (12 August 2009). "Figaro needs P200 million to pay debts". Phil Star. Retrieved 6 September 2013.
  13. ↑ Poblete, Johanna (26 June 2009). "Ex-Figaro CEO pushes ahead with new coffee chain". ABS CBN Business News. Retrieved 6 September 2013.
  14. ↑ Bongcac, Doris (11 December 2008). "Figaro studying organic coffee market". Philippine Inquirer. Retrieved 6 September 2013.
  15. ↑ "Figaro eyes Fiji". Inside Retail Asia. 29 April 2013. Retrieved 6 September 2013.
  16. ↑ "Coffee Chain Figaro (Philippine) to Bring its Franchise to Fiji". World Franchise Associates. 24 April 2013. Retrieved 10 September 2013.
  17. ↑ Valemai, Ropate (24 April 2013). "Coffee chain considers Fiji franchise". The Fiji Times. Retrieved 6 September 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.