Villar puts coffee shops in malls, realty biz
Former senator and housing magnate Manuel Villar Jr. is diving into the coffee shop business, seeing a huge potential for growth in the industry.
Villar, through his All Value Holdings Corp., has put up the third store of “Coffee Project” and plans to set up 10-12 branches this year. Each store has an operating cost of P12 million.
He said all his malls, Starmall and Vista Land, will have Coffee Project shops.
“I’ve always liked coffee shops. I think there’s a big room for coffee shops in the country.
There are different niches for this. On the business aspect, I would like our businesses to offer something that is food-related…There are a lot of coffee shops … but consumers are still looking for other boutique shops. So we hope to carve out a niche,” Villar was quoted by Malaya Business Insight as saying.
Villar said a coffee shop business is not too far from his realty and retail businesses.
“We are already in supermarket, in housing, in department stores though they’re still small. This is a good complement business for all that since it’s in the food aspect,” he said.