Fast food giant eyes Jollibee China expansion
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Philippine fastfood giant Jollibee Foods Corp is keen to expand its footprint in China.
Jollibee China is likely to add 20 to 40 new stores to its 400 outlets, according to Jollbee CEO Ernestro Tanmantiong. He said the company continues to target 5 to 10 per cent growth in stores.
“We are exploring acquisitions. Our focus is on food service,” he said, adding that the company had acquired a commissary to support its business.
Early this year, Jollibee Foods took over a food manufacturing facility that services Yonghe King, a famous non-Western restaurant in China.
Asked about the recent international ruling on the West Philippine Sea and its impact on the business, Tanmantiong said the company thinks the ongoing dispute is unlikely to hurt the company’s operations in China.
“I think the move of the government to employ diplomacy is the best way to settle the differences. It is the best solution,” Tanmantiong said.
“Our vision in the future is to achieve a 50-50 ratio of international versus Philippines. Today, it’s 80 per cent Philippines and 20 per cent international. We hope to achieve a 50-50 ratio but it doesn’t mean we are slowing down in the Philippines,” he said.
Questions & Answers
Q.What proportion of Jollibee's current store count is located internationally?
What proportion of Jollibee's current store count is located internationally?
Currently, 20 per cent of Jollibee's stores are international. The remaining 80 per cent are located in the Philippines. The company aims to achieve a 50-50 ratio between international and Philippine stores in the future.
Q.How many new stores is Jollibee looking to add in China specifically?
How many new stores is Jollibee looking to add in China specifically?
Jollibee is likely to add between 20 and 40 new stores to its existing 400 outlets in China. This is part of the company's broader target for 5 to 10 per cent growth in stores.
Q.How does Jollibee Foods plan to support its business expansion through acquisitions?
How does Jollibee Foods plan to support its business expansion through acquisitions?
The company is exploring acquisitions focusing on food service. It recently acquired a commissary to support its operations and earlier this year took over a food manufacturing facility that services Yonghe King in China.
Q.What is Jollibee's view on the potential impact of the West Philippine Sea ruling on its China business?
What is Jollibee's view on the potential impact of the West Philippine Sea ruling on its China business?
Jollibee CEO Ernestro Tanmantiong believes the ongoing dispute is unlikely to harm the company's operations in China. He thinks the government's approach of employing diplomacy is the best way to settle differences.
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