Los Angeles is more than just a
constantly sunny city with 75-miles of coastline and some of Southern
California’s greatest beaches. It’s also the second largest city in the United
States, the most populous city in the state of California and a global tourism
destination with a diverse economy in entertainment, culture, media, fashion
and so much more. To achieve success in this forward-thinking municipality,
entrepreneurs are required to think outside of the box and address unmet needs
in their chosen markets. In February 2008, Giggles N’ Hugs, Inc. (OTCQB: GIGL)
founder Joey Parsi did just that when he launched the very first Giggles N’
Hugs restaurant in Brentwood, California.
Following its launch, the Giggles
N’ Hugs concept proved an immediate success, enjoying both profitability and
widespread media coverage. Capitalizing on the viability of its home market,
the company’s innovative, family-friendly restaurants caught the attention of
some of Los Angeles’s most recognizable parents – including celebrities such as
Adele, Drew Barrymore, Mariah Carey and Mark Wahlberg. As a result of this
early success, Giggles N’ Hugs was approached by Westfield Corporation (OTC:
WEFIF), one of the world’s leading shopping center companies, with an
intriguing expansion proposal.
In 2010, Giggles N’ Hugs
successfully launched its second restaurant in the Westfield Century City Mall.
Because of the company’s attractiveness as a tenant, it was able to secure an
agreement stating that the mall was to pay 60 percent of construction costs and
make other favorable concessions. Today, Giggles N’ Hugs has expanded its reach
to include three locations in the Greater Los Angeles area, and additional
growth could be on the horizon.
Last month, the company signed an
agreement with Chardan Capital Markets, LLC, a boutique investment bank
headquartered in New York, designed to assist Giggles N’ Hugs in finding and
connecting with potential investors and business partners. Chardan will also
provide invaluable advice and assistance to management preparing to present to
financial sources and perform a wide variety of financial advisory services.
Look for the company to continuing
promoting financial growth as it takes the necessary steps to prepare for an
uplisting to a national exchange later this year. With a proven concept that
fills a significant unmet need in the market and addresses the top trends
shaping the evolution of the broader restaurant industry, Giggles N’ Hugs is
now firmly focused on expanding its reach in markets throughout the country and
around the world. Joey Parsi, founder and chief executive officer of Giggles N’
Hugs, echoed this sentiment in a recent news release.
“With the unbelievable management
team we now have in place, and having one of the most unique concepts in the
restaurant industry… we are ready to explode onto the national scene first with
multiple locations in some of the best properties in the country and ultimately
around the world.”
Learn more by visiting
www.gigglesnhugs.com
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