Shake Shack's announcement that they planned to open a restaurant in Manila has sent their partner’s stock soaring. Shake Shack will begin operating in the capital of the Philippines in 2019. News of the arrival of the chain has seen the shares of licensee SSI rise as much as 18 percent, the most in over two years.
Mabuhay, Manila! Pack the Jeepney - we’re officially headed to the Philippines! 🙌 We can’t wait to shack up in the Pearl of the Orient in spring 2019. 🇵🇭 pic.twitter.com/DWuegylSk5— SHAKE SHACK (@shakeshack) July 17, 2018
In a statement, Shake Shack said it has selected SSI Group as its Philippine partner because of its experience in retail and hospitality. SSI is the largest retailer of luxury brands like Hermes, Prada, and Gucci in the country, and has branched out into food service with TWG Tea and SaladStop!.
Shake Shack, founded in New York, has decided to venture into Asia as the American market has become saturated with fast food restaurants. The burger giant will open 14 stores in Hong Kong and Macau in the next decade. Singapore will also get its first Shake Shack at the new Changi Airport terminal.
“Manila is an incredible city; its heart beats with a distinct warmth and hospitality,” said Michael Kark, vice president of global licensing at Shake Shack. “We are excited to begin the search for our first site in Metro Manila.”
"Shake Shack is proud to partner with the SSI Group, known for its retail expertise and culture of hospitality, to bring Shake Shack to the Philippines," Kark added.
Some argue Shake Shack serves the best burger in the world. The chain began as a hot dog cart in Madison Square Park in 2001, and in 2004, they opened a permanent kiosk. Since then, stores have popped up in cities around the world.
“It has been a mission of the SSI Group to provide complete lifestyle offerings through global partnerships that cater to the eclectic tastes of Filipino consumers. We are excited to bring Shake Shack, one of the world’s best burger joints, to Manila’s young and vibrant consumer scene. We believe that Filipinos will embrace the mission to Stand for Something Good and are proud to partner with Shake Shack to bring the complete gastronomic experience, coupled with its fun and lively environment to the Philippines,” said Anton T.Huang, President of SSI Group, Inc.
The company’s mantra is Stand For Something Good®, therefore, Shake Shack will work with local suppliers to create its legendary burgers in Manila. The restaurant’s menu will also feature signature items like the ShackBurger®, Shack-cago Dog®, classic crinkle-cut fries, beer, wine and frozen custard ice cream.