Jollibee Malaysia opens new store
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Filipino fast-food chain Jollibee is returning to Malaysia, opening a store in Sabah.
According to CEO Ernesto Tanmantiong, the Jollibee Malaysia move is part of the company’s aspirations to open 500 stores under a PHP12 billion (US$224 million) spending plan, including new destination markets such as the UK, Malaysia and Indonesia.
Sabah is geographically closest to the Philippines and has a large Filipino community.
Jollibee founder and chairman Tony Tan Caktiong said: “We expect revenues and profit to continue to at least sustain [Jollibee’s] historical growth rates this year and in the years ahead.”
The original Jollibee Malaysia business closed down following the 1997 Asian financial crisis.
Questions & Answers
Q.What is the primary reason for Jollibee opening its new store in Sabah?
What is the primary reason for Jollibee opening its new store in Sabah?
Jollibee chose Sabah for its new store because it is geographically closest to the Philippines. This location also has a significant Filipino community, which is likely a key demographic for the fast-food chain's return to Malaysia.
Q.What is the company's overall expansion strategy, and what budget has been allocated?
What is the company's overall expansion strategy, and what budget has been allocated?
Jollibee plans to open 500 new stores as part of its expansion. This ambitious plan includes venturing into new markets like the UK, Malaysia, and Indonesia, backed by a spending budget of PHP12 billion (US$224 million).
Q.What happened to Jollibee's previous operations in Malaysia?
What happened to Jollibee's previous operations in Malaysia?
Jollibee had an earlier presence in Malaysia, but its original business there ceased operations. This closure occurred after the Asian financial crisis, which took place in 1997.