Giggles N’ Hugs, Inc. (GIGL) Thriving in Competitive Los Ang Giggles N’ Hugs, Inc. (GIGL) Thriving in Competitive Los Angeles Market with Unique Restaurant Concept
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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