Jollibee launches burger offensive
Philippine’s fast-food giant Jollibee Foods Corp will allocate $135 million of its 2013 capital expenditure to expand its brand through the establishment of 300 new stores in the Philippines and overseas, Tony Tan Caktiong, Jollibee chairman and CEO, was quoted as saying by the Philippine Star on January 22.
Jollibee has set out plans to increase spending by 37.5 per cent in 2013 in an effort to sustain the double-digit net income and sales growth it underwent in 2012, , Caktiong confirmed.
In 2012, the fast-food chain that has become synonymous with the Philippine industry opened up 200 new stores.
As of end-September 2012, Jollibee was operating 2,040 stores in the Philippines for all of its brands: 765 for Jollibee, 383 for Chowking, 201 for Greenwich, 209 for Red Ribbon, 457 for Mang Inasal and 25 for Burger King.During the third quarter of 2012, net income attributable to equity holders rose to $21.6 million, a 19 per cent increase year-on-year.
Jollibee’s sales rose for its brands by 9.6 per cent in the Philippines, while brands overseas grew by 22.6 per cent.
Due to the continued potential overseas markets represent for the rapidly growing company, Jollibee has signaled interest in developing more of a footprint abroad.
“We are looking at China,” Caktiong said, adding that around half of the new stores will be set up abroad.
“We would like to [establish] Jollibee in Indonesia,” Tan Caktiong added. The chain intends to offer halal-certified yet spicier products to fit the taste of Indonesians, he added.
Jollibee currently has 541 overseas branches.
The food company also just opened a giant two-story store in Davao in January 2013, with plans to open more. Jollibee sold 22 million burgers in Davao alone in 2012.
Philippine’s fast-food giant Jollibee Foods Corp will allocate $135 million of its 2013 capital expenditure to expand its brand through the establishment of 300 new stores in the Philippines and overseas, Tony Tan Caktiong, Jollibee chairman and CEO, was quoted as saying by the Philippine Star on January 22. Jollibee has set out plans to increase spending by 37.5 per cent in 2013 in an effort to sustain the double-digit net income and sales growth it underwent in 2012, , Caktiong confirmed. In 2012, the fast-food chain that has become synonymous with the Philippine industry opened up 200 new stores....
Philippine’s fast-food giant Jollibee Foods Corp will allocate $135 million of its 2013 capital expenditure to expand its brand through the establishment of 300 new stores in the Philippines and overseas, Tony Tan Caktiong, Jollibee chairman and CEO, was quoted as saying by the Philippine Star on January 22.
Jollibee has set out plans to increase spending by 37.5 per cent in 2013 in an effort to sustain the double-digit net income and sales growth it underwent in 2012, , Caktiong confirmed.
In 2012, the fast-food chain that has become synonymous with the Philippine industry opened up 200 new stores.
As of end-September 2012, Jollibee was operating 2,040 stores in the Philippines for all of its brands: 765 for Jollibee, 383 for Chowking, 201 for Greenwich, 209 for Red Ribbon, 457 for Mang Inasal and 25 for Burger King.During the third quarter of 2012, net income attributable to equity holders rose to $21.6 million, a 19 per cent increase year-on-year.
Jollibee’s sales rose for its brands by 9.6 per cent in the Philippines, while brands overseas grew by 22.6 per cent.
Due to the continued potential overseas markets represent for the rapidly growing company, Jollibee has signaled interest in developing more of a footprint abroad.
“We are looking at China,” Caktiong said, adding that around half of the new stores will be set up abroad.
“We would like to [establish] Jollibee in Indonesia,” Tan Caktiong added. The chain intends to offer halal-certified yet spicier products to fit the taste of Indonesians, he added.
Jollibee currently has 541 overseas branches.
The food company also just opened a giant two-story store in Davao in January 2013, with plans to open more. Jollibee sold 22 million burgers in Davao alone in 2012.
Very interesting….i only remarked yesterday how i was surprised to see them in Brunei