Since opening its first location in Southern California in
2008, Giggles N’ Hugs, Inc. (OTCQB: GIGL) has promoted strong growth through
its innovative combination of high-end, organic food and cutting-edge
entertainment for children. The company currently operates three unique
locations throughout the Greater Los Angeles area and continued expansion
appears to be on the horizon. Last week, GIGL announced that it was in active
negotiations with several of the country’s largest mall owners – including
General Growth Properties (NYSE: GGP), Simon Property Group (NYSE: SPG) and
Westfield Group (OTC: WEFIF) – targeted at the company’s eventual expansion
into key national markets.
“We’re very excited to enter our next phase of operations
and to begin replicating the success we’ve experienced with our first three
locations in Los Angeles,” Joey Parsi, founder and chief executive officer of
GIGL, stated in a news release. “While we’re doing great in Southern
California, where we’re known for our warm weather and sunny climate, we
anticipate our results will be even better in markets where the weather is often
less than ideal.”
The company’s current negotiations are initially focused on
the development of five properties along the west coast in viable markets such
as Seattle, San Francisco and San Diego. To date, GIGL has received lease terms
for the proposed properties, which will be similar in size to its current
locations. Potential locations in Seattle and San Francisco, in particular,
have the company’s management team predicting sustainable growth in the years
to come. GIGL expects to benefit from the rainy weather conditions often
present in these markets by producing higher revenue and profit margins while
driving increased shareholder value.
In addition to these expansion efforts, GIGL continues to
progress toward the impending launch of its franchising initiative. In July,
the company highlighted the growing demand for franchise opportunities received
from large multi-unit franchising operators and small individual franchisees in
both domestic and international markets. Margins from these franchise
operations are expected to be above 25 percent, providing an opportunity for
significant financial growth. Although GIGL has yet to release plans to
capitalize on this interest, the company’s entry into the franchising arena
could be ready for launch “very soon,” according to Philip Gay, chief
development officer of GIGL.
GIGL’s progress toward expanding on the early success of its
innovative family-friendly restaurant concept makes the company an intriguing
investment opportunity moving forward. Look for GIGL to leverage its growing
national brand recognition in order to promote strong returns for the
foreseeable future.
For more information, visit
www.gigglesnhugs.com/investor-relations/
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