Philippines’ Jollibee pushes global expansion

Jollibee has a reputation for its yummy fried chicken

Philippine fast food chain Jollibee, a brand with a main presence in Southeast Asia, the Middle East and North America, is embarking on a worldwide expansion drive even though the Covid-19 pandemic is still raging across the globe.

The Pasig, Metro Manila-headquartered company plans to expand its network of currently 5,800 stores in 35 countries – a count which includes affiliated company brands such as Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Smashburger and Panda Express – by 450 new eateries this year. Target markets are China, Southeast Asia, namely Vietnam, the Philippines, Singapore and Malaysia, as well as the US, Canada and the UK, the BBC reported.

Despite recurring lockdowns and little indication when the coronavirus pandemic will subside, Jollibee said is positive about market opportunities worldwide with the aim to become one of the world’s top five fast food chains.

Jollibee, known for its fried chicken and sweet spaghetti dishes and seen as Asia’s equivalent of KFC, has spent seven billion pesos ($144 million) on “business transformations,” including upgrades to its food delivery and online sales. In 2019, it bought the Coffee Bean & Tea Leaf, a US-based chain, its largest ever purchase at $350 million.

Targets around 80 per cent of sales from abroad

Jollibee said that 80 per cent of its new branches will be opened abroad and that it wants more than a half of its revenue to come from international operations by 2025.

The company posted a loss of 11.5 billion pesos ($236 million) last year, its first annual loss in more than three decades, as dining out was hit hard by virus lockdowns.



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Jollibee has a reputation for its yummy fried chicken Philippine fast food chain Jollibee, a brand with a main presence in Southeast Asia, the Middle East and North America, is embarking on a worldwide expansion drive even though the Covid-19 pandemic is still raging across the globe. The Pasig, Metro Manila-headquartered company plans to expand its network of currently 5,800 stores in 35 countries – a count which includes affiliated company brands such as Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Smashburger and Panda Express – by 450 new eateries this year. Target markets are China, Southeast Asia, namely...

Jollibee has a reputation for its yummy fried chicken

Philippine fast food chain Jollibee, a brand with a main presence in Southeast Asia, the Middle East and North America, is embarking on a worldwide expansion drive even though the Covid-19 pandemic is still raging across the globe.

The Pasig, Metro Manila-headquartered company plans to expand its network of currently 5,800 stores in 35 countries – a count which includes affiliated company brands such as Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Smashburger and Panda Express – by 450 new eateries this year. Target markets are China, Southeast Asia, namely Vietnam, the Philippines, Singapore and Malaysia, as well as the US, Canada and the UK, the BBC reported.

Despite recurring lockdowns and little indication when the coronavirus pandemic will subside, Jollibee said is positive about market opportunities worldwide with the aim to become one of the world’s top five fast food chains.

Jollibee, known for its fried chicken and sweet spaghetti dishes and seen as Asia’s equivalent of KFC, has spent seven billion pesos ($144 million) on “business transformations,” including upgrades to its food delivery and online sales. In 2019, it bought the Coffee Bean & Tea Leaf, a US-based chain, its largest ever purchase at $350 million.

Targets around 80 per cent of sales from abroad

Jollibee said that 80 per cent of its new branches will be opened abroad and that it wants more than a half of its revenue to come from international operations by 2025.

The company posted a loss of 11.5 billion pesos ($236 million) last year, its first annual loss in more than three decades, as dining out was hit hard by virus lockdowns.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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