MANILA, Philippines — Filipino-owned Asian food conglomerate Jollibee Group is targeting to open 100 Michelin-starred Tim Ho Wan restaurants in China in the next four years.
“We’re thrilled to continue expanding the Michelin-starred Tim Ho Wan in mainland China. We are targeting to open 100 restaurants within the next four years,” Jollibee Foods Corp. China president Shirley Chang said yesterday.
Last July 11, the group opened its first Tim Ho Wan restaurant in Shanghai’s Changning District after making its debut in mainland China in September 2020. The group will open three more branches of Tim Ho Wan by September.
These will be in strategic locations in Shanghai’s Hongkou, Jing ‘an, and Minhang Districts, Chang said.
Located in Nanfeng City Shopping Mall, the new Tim Ho Wan branch is a few minutes’ drive from the Shanghai Hongqiao International Airport which ranks among the busiest airports in China.
Jollibee Group earlier entered into a joint venture agreement with the Tim Ho Wan Group to open and operate Tim Ho Wan restaurants in mainland China.
Jollibee Group is one of the fastest-growing Asian restaurant companies in the world with a target to become the top five restaurant companies in the world.
At present, it operates in 33 countries, with over 5,800 stores globally with branches in the Philippines, United States, Canada, the People’s Republic of China, United Kingdom, Italy, Vietnam, Brunei, Singapore, Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait, Bahrain, Indonesia, Costa Rica, Egypt, Panama, Malaysia, South Korea, Japan, and India.
The group has eight wholly-owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger); five franchised brands (Burger King, Panda Express, and PHO24 in the Philippines, Dunkin’ Donuts and Tim Ho Wan in certain territories in China).
It also has 80 percent ownership of The Coffee Bean and Tea Leaf; and 60 percent ownership in the SuperFoods Group that owns Highlands Coffee and PHO24.
Jollibee Group is a significant investor in Titan Dining LP, a private equity fund and the ultimate holding entity of the Tim Ho Wan (THW) Brand and has a joint venture with the THW Group to open and operate THW restaurants in mainland China.
It also has a business venture with award-winning Chef Rick Bayless for Tortazo, a Mexican fast-casual restaurant business in the United States.
The Jollibee Group also has a 50 percent ownership in a joint venture established to operate and expand Yoshinoya in the Philippines. Yoshinoya is one of the largest and most recognized Japanese restaurant brands globally and is the company’s first ever Japanese food chain.