Giggles N’ Hugs, Inc. (GIGL) Demonstrates Commitment to Grow Giggles N’ Hugs, Inc. (GIGL) Demonstrates Commitment to Growth through Negotiations with National Mall Owners
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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