Jollibee Foods Corp. chairman and CEO Tony Tan Caktiong told reporters during the company’s stockholders’ meeting last week that they are in talks with investor groups interested in getting an international franchise for the flagship Jollibee brand.
"We’re looking for a group who will be responsible in opening up new markets for Jollibee abroad," Tan Caktiong said.
Within the Jollibee group, only the main hamburger store and the Oriental fastfood chain Chowking have established outlets abroad, mainly in Hong Kong and the US.
Tan Caktiong said their focus, however, is on Jollibee, although he said Chowking — which has expanded overseas before it merged with the Jollibee group last year — also has the potential for international franchising.
The integration of Chowking into the Jollibee group has propelled JFC to undisputed leadership in the country’s fastfood business, cornering the three largest segment of the market — hamburger/chicken, pizza/pasta and Oriental/Chinese.
Aside from Jollibee and Chowking, the group also includes Greenwich Pizza and Delifrance, a higher-end bakeshop specializing in French bread delicacies.
At end-March 2001, JFC had a total of 761 restaurants in the Philippines (384 Jollibee, 192 Greenwich, 170 Chowking and 15 Delifrance), along with the 26 international branches, mostly Jollibee stores.
Tan Caktiong said due to Jollibee’s success in the California and Hong Kong, their international expansion is concentrated in these areas, as two more stores are set to open this month in the US state.
He said if negotiations proceed smoothly, Jollibee will be next targeting markets in other Asian countries such as Singapore, Taiwan and Malaysia although he added the talks are still in the exploratory stages, hence no details can be divulged. – Conrado Diaz Jr.