Jollibee in the market for more global brands

MANILA, Philippines — Jollibee Foods Corp. (JFC) is bullish on the global economy as it continues its expansion overseas.

JFC chief executive officer Ernesto Tanmantiong said the company is on the lookout for more brands abroad that are profitable and would have significant growth potential.

“We hope to create the Jollibees of other countries by sharing our competencies in fast food chain management and our close to four decades of experience and understanding on serving great-tasting food and consumer value,” Tanmantiong said.

The company said it would also continue to expand its store network and renovation across the globe in line with its vision to be among the top five largest restaurant companies in the world.

JFC opened at the Brunei International Airport, making it the 15th Jollibee store in the East Asian country, as well as the opening of its sixth store in Hong Kong.

These store openings reinforce JFC’s position as the largest Asian restaurant company and the 11th largest restaurant company in the world.

“When we started our first Jollibee Brunei branch back in 1987, we wanted to appeal not only to Filipinos, but to locals as well. 30 years on, we are very happy to see the growth of Jollibee into a brand which is well-loved by the Bruneian community,” he said.

JFC’s store in Brunei, located in front of the airport’s arrival area, is part of the company’s response to the strong market demand for the brand.

This year marks the 30th year anniversary of Jollibee in Brunei, and it is now the longest running international operation in the business. Its sixth Hong Kong branch, meanwhile, opened in Wan Chai, which is centrally located on the northern shore of Hong Kong Island with a population of around 180,000 citizens and 15,000 Filipinos.

“The store posted impressive sales on its first three days of operation, showing a good balance of Filipino and local customers,” Tanmantiong said.

For this year alone, JFC has a target to open 100 to 120 stores abroad across its Jollibee, Chowking, Red Ribbon, Yonghe King, and Hong Zhuang Yuan brands, with the aim of surpassing its historical performance.

Majority of the openings would be in its two priority markets, which are China (50 to 60 stores) and USA (5 to 10). JFC also targets to open in Vietnam (15), Middle East (15 to 35), and other Asian countries.