Figaro Coffee

Figaro Coffee is a Philippine coffee company and coffeehouse chain operating primarily through franchised outlets. The business began in November 1993 when seven college friends, including Pacita “Chit” Juan and Reena Francisco, opened a small kiosk in Quad mall in Makati, now associated with the Glorietta complex. The first location was initially known as “the F store” and sold freshly ground coffee, tea, and coffee-making accessories. After several months of operation, the founders adopted the name Figaro in April 1994, drawing inspiration from The Barber of Seville. Their stated ambition was to create a place where Filipinos could obtain quality coffee together with the equipment and accessories needed to prepare it. Juan, who had studied Hotel and Restaurant Administration at the University of the Philippines Diliman, became the company’s chief executive and remained in that role until 2008. Francisco served as chief operating officer during the same formative period. The chain expanded from its original Makati kiosk into a broader Philippine retail network, reaching 53 outlets by the middle of 2006, including locations in Metro Manila, Baguio, and Davao. It opened its first Cebu branch in December 2006 and added 12 stores during 2007. Figaro also pursued international franchising, opening its first overseas outlet in Shanghai in 2005 and later operating outlets in markets including Qatar, Saudi Arabia, and Papua New Guinea. Coffee sourcing and agricultural development became an important part of the company’s identity during the late 1990s. In 1998, Juan met Reverend Father Roger Bagao, a coffee farmer and priest from Tagaytay City who led a farmers’ cooperative. The relationship contributed to the introduction of Cafe Barako in 1999 and the “Save the Barako” campaign, which promoted the Philippine barako coffee tradition. Around the same period, the Figaro Foundation was established to support coffee farmers and encourage commercially viable cultivation. Figaro later experimented with retailing and exporting organic coffee. The company experienced a major ownership and management transition in 2008, when Juan and Francisco sold their interests in F Coffee Holdings Corporation, then the parent of Figaro Coffee, to the Tanseco family and relinquished operational control. Jerry Liu was also reported to have invested in the business during that period. Jose Fernando Alcantara became chief executive in 2008, followed by CrisMel Verano in 2009. The company underwent financial restructuring in 2009 and closed some overseas outlets. The same period also brought litigation over certain Figaro trademarks that continued to be held by Juan; the dispute was reported as settled in Figaro Coffee’s favor by February 2012. Figaro had publicly discussed a possible initial public offering in 2006 and again in 2009, but those plans did not materialize at the time. In 2013, the company announced intentions to pursue outlets in Fiji and Vietnam, while reporting indicated that it had 63 locations across the Philippines and selected overseas markets as of September that year. By 2020, the chain was reported to have approximately 90 outlets worldwide. On June 21, 2021, ownership of Figaro Coffee Systems, Inc. transferred from F Coffee Holdings Corporation to The Figaro Coffee Group Inc. The group subsequently operated Figaro Coffee alongside other food-service concepts, including Angel’s Pizza and Tien Ma’s. The group’s Philippine Stock Exchange listing uses the ticker FGC.

Figaro Coffee was established in November 1993 by seven college friends, among them Pacita “Chit” Juan and Reena Francisco. Its first operation was a small kiosk in Quad mall in Makati. The outlet initially used the name “the F store” and sold freshly ground coffee, tea, and coffee-related accessories. In April 1994, the founders adopted the name Figaro, inspired by the opera The Barber of Seville. The concept was intended to provide Filipino customers with coffee and the equipment needed to prepare it. Juan became the company’s chief executive, while Francisco served as chief operating officer. The domestic network expanded during the 1990s and 2000s, initially concentrating on Metro Manila before reaching Baguio, Davao, and other Philippine cities. By mid-2006, the chain had 53 outlets. Its first Cebu branch opened in December 2006, followed by 12 additional stores in 2007. The company’s development also included a coffee-farming and Philippine-origin coffee initiative. Juan met Reverend Father Roger Bagao in 1998. Bagao was a coffee farmer and priest associated with a farmers’ cooperative in Tagaytay City. Figaro introduced Cafe Barako in 1999 as part of the “Save the Barako” campaign, and the Figaro Foundation was established to assist coffee farmers in developing profitable operations. Figaro later experimented with organic coffee retailing and exports. International expansion began with the opening of a Shanghai outlet in 2005. The company subsequently operated or reported outlets in markets including Qatar, Saudi Arabia, and Papua New Guinea. In September 2013, reported systemwide outlets totaled 63 across the Philippines and selected overseas markets; by 2020, the chain was reported to have 90 outlets worldwide. The company also announced proposed expansion into Fiji and Vietnam in 2013. Ownership and management changed substantially in 2008. Juan and Francisco sold their shares in F Coffee Holdings Corporation, then the company’s parent, to the Tanseco family and relinquished management control. Jose Fernando Alcantara became chief executive in 2008, followed by CrisMel Verano in 2009. Figaro underwent financial restructuring in 2009 and closed some overseas branches. During this period, a dispute arose over certain trademarks associated with Figaro Coffee. The dispute was reported as settled in favor of Figaro Coffee by February 2012. The company discussed possible IPO plans in 2006 and 2009, but those proposals did not materialize at the time. On June 21, 2021, ownership of Figaro Coffee Systems, Inc. transferred from F Coffee Holdings Corporation to The Figaro Coffee Group Inc. The latter also owns and operates Angel’s Pizza and Tien Ma’s. The group is listed on the Philippine Stock Exchange under the ticker FGC. Current executive details for the Figaro Coffee brand itself are not established by the supplied reference material.

1. 2021Transfer to The Figaro Coffee Group

   Figaro Coffee Systems, Inc. becomes part of The Figaro Coffee Group Inc.

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2. 2009Restructuring and overseas rationalization

   Figaro restructures financially and closes some overseas locations.

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3. 2008Ownership and management transition

   The founders sell their interests in the parent company and leave operational control.

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4. 2006Network reaches 53 outlets

   By mid-year, Figaro has expanded to 53 locations, concentrated mainly in the Philippines.

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5. 2005International expansion begins in Shanghai

   The company opens its first overseas branch in Shanghai.

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6. 1999Cafe Barako launches

   Figaro introduces Cafe Barako as part of its effort to promote Philippine coffee and support local farmers.

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7. 1994The Figaro name is adopted

   The founders rename the coffee shop Figaro, drawing inspiration from The Barber of Seville.

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8. 1993First kiosk opens in Makati

   Seven college friends establish the business and open the original kiosk in Quad mall.

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A Philippine-origin coffeehouse and franchise brand combining café beverages, coffee retail, coffee accessories, and support for local coffee cultivation.

• Cafe BarakoCoffee1999

  A Figaro coffee offering introduced in 1999 and associated with the company’s campaign to promote barako, a Philippine coffee tradition. Its launch connected the retail coffeehouse business with efforts to sustain local coffee farming.

• Freshly Ground CoffeeCoffee1993

  Freshly ground coffee was part of the original kiosk’s offer and remained central to Figaro’s coffeehouse proposition. The brand also sold coffee beans and related preparation accessories.

• Tea BeveragesTea1993

  Tea was included alongside coffee from the company’s earliest operation. The supplied reference identifies tea as a standard part of the original Figaro beverage range but does not specify individual recipes or product names.

• Organic CoffeeCoffee retail and export2009

  Beginning in 2009, Figaro experimented with retailing and exporting organic coffee. The available reference does not identify specific packaged products, certifications, or continuing availability.

• 1999Save the Barako

  Philippines

  Figaro introduced Cafe Barako through a campaign intended to promote the Philippine barako coffee tradition and strengthen the position of local coffee farmers.

  Outcome. The campaign was accompanied by the creation of the Figaro Foundation and became a notable part of the brand’s coffee-farming and local-sourcing identity.

  Source

• 2021Transfer to The Figaro Coffee Group Inc.M&A

  Figaro Coffee Systems, Inc. was previously held by F Coffee Holdings Corporation.

  What changed. Ownership transferred to The Figaro Coffee Group Inc. on June 21, 2021.

  Aftermath. Figaro Coffee became part of a listed Philippine food-service group that also operates Angel’s Pizza and Tien Ma’s.

  Source
• 2009Financial restructuring and organic-coffee experimentationStrategy

  Following ownership changes, Figaro faced a restructuring period and reviewed parts of its international network.

  What changed. The company restructured financially, closed some overseas branches, and experimented with retailing and exporting organic coffee.

  Aftermath. The changes reduced some overseas operations while broadening the company’s exploration of coffee retail formats.

  Source
• 2008Founders transfer ownership interestsM&A

  The original founders sold their interests in F Coffee Holdings Corporation, the then-parent company of Figaro Coffee.

  What changed. Pacita Juan and Reena Francisco sold their shares to the Tanseco family and relinquished management control.

  Aftermath. Leadership changed, with Jose Fernando Alcantara becoming chief executive in 2008 and the company later undergoing restructuring.

  Source
• 2006Proposed initial public offeringStrategy

  Figaro Coffee discussed a possible IPO on the Makati Stock Exchange as its outlet network expanded.

  What changed. The company announced IPO plans, but the offering did not materialize at that time.

  Aftermath. The company later revisited the possibility in 2009 without completing an IPO according to the supplied reference.

  Source

• 2021Ownership transfers to The Figaro Coffee Group

  Ownership of Figaro Coffee Systems, Inc. moved from F Coffee Holdings Corporation to The Figaro Coffee Group Inc., which also operates other restaurant concepts.

  M&ALeadership change
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• 2013Figaro Coffee outlines expansion plans for Fiji and Vietnam

  The company announced intentions to develop outlets in Fiji and Vietnam.

  Other
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• 2013Figaro signals expansion to Fiji and Vietnam

  Franchisee manager Mike Barret announced intentions to open Figaro outlets in Fiji and Vietnam.

  Other
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• 2012Trademark dispute is settled in favor of Figaro Coffee

  A dispute involving ownership of certain Figaro trademarks was reported as resolved in favor of Figaro Coffee.

  Lawsuit
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• 2012Figaro trademark dispute reportedly settled

  A dispute involving certain Figaro trademarks associated with former founder Pacita Juan was reported as settled in favor of Figaro Coffee.

  Lawsuit
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• 2009Figaro Coffee undergoes restructuring and closes some overseas branches

  The company undertook financial restructuring and reduced part of its international footprint.

  Other
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• 2009Figaro undergoes restructuring and closes some overseas branches

  The company carried out financial restructuring and shut some international outlets while continuing to explore coffee retail and organic coffee exports.

  Other
  Source
• 2008Founders sell interests and management control changes

  Pacita Juan and Reena Francisco sold their shares in F Coffee Holdings Corporation to the Tanseco family and gave up management control.

  M&ALeadership change
  Source
• 2008Founders sell interests and relinquish management control

  Pacita Juan and Reena Francisco sold their interests in the then-parent company, F Coffee Holdings Corporation, to the Tanseco family and left operational control.

  M&ALeadership change
  Source
• 2006Figaro Coffee announces possible initial public offering

  Figaro Coffee expressed plans for an IPO on the Makati Stock Exchange; the proposal did not proceed at that time.

  Other
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• 2006Figaro announces possible initial public offering

  Figaro communicated plans for a possible IPO on the Makati Stock Exchange, but the proposed listing did not proceed.

  Other
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• 2005Figaro Coffee opens its first overseas outlet in Shanghai

  The company expanded outside the Philippines with a Shanghai outlet.

  Other
  Source
• 2005Figaro opens first overseas outlet in Shanghai

  The company expanded beyond the Philippines by opening its first reported overseas branch in Shanghai.

  Other
  Source

1. Figaro Coffee