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Business

JFC to open 33 outlets in China by December

Iris Gonzales - The Philippine Star
JFC to open 33 outlets in China by December
This is aligned with the group’s vision to be among the top five restaurant companies in the world, said Jollibee Group president and CEO Ernesto Tanmantiong.
Philstar.com / Irish Lising, file

MANILA, Philippines — The Jollibee Group is targeting to open 33 more stores in China by December across its three brands Tim Ho Wan, Yonghe King, and Hong Zhuang Yuan.

This is aligned with the group’s vision to be among the top five restaurant companies in the world, said Jollibee Group president and CEO Ernesto Tanmantiong.

The 33 new stores will be in addition to the 80 stores opened under these three brands this year.

“The expansion efforts of these brands will play a huge and important role in generating revenue and strengthening the Jollibee Group’s growth, especially since China is one of the company’s four pillar markets,” Tanmantiong said.

Michelin-starred Tim Ho Wan made its debut in China last year and now has six stores across Shanghai.

The restaurant, known for its baked BBQ pork buns, rice roll and pan-fried radish cakes, opened stores in commercial centers in Shanghai and all restaurants continue to enjoy long queues since they opened.

The Jollibee Group plans to aggressively expand the Tim Ho Wan brand to about 100 outlets within five years.

Chinese fast-food restaurant Yonghe King, known for its ground soy milk, minced pork rice, and crispy tender chicken thigh, opened 62 new stores in 2021.

Yonghe King has likewise entered the Shaanxi Province with two stores in Xi’an City. It is set to open its first store in Hainan province.

Yonghe King is scheduled to open a total of 23 more stores by December.

Hong Zhuang Yuan, which now has 44 stores in China, recently opened its first mall-based store in Xiyue Sky Street in Southwest Beijing.

The new branch offers a new and exclusive menu, featuring value-for-money dishes, JFC said.

Hong Zhuang Yuan plans to open stores in the top 10 shopping malls in Beijing and other shopping malls outside the city as it seeks to have 60 stores by the end of 2021.

The Jollibee Group has allocated P12.2 billion for groupwide capital expenditures this year, the highest in the company’s history, as it steps up expansion in Asia such as China.

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