MANILA, Philippines — Jollibee Foods Corp. (JFC), the Asian food conglomerate, has sealed a stronger presence in China with the opening of its 500th restaurant.
The company opened another branch of Yonghe King, one of three brands in China, along with Michelin-starred Tim Ho Wan and Hong Zhuang Yuan.
Yonghe King, famous for its meal sets and soya milk, opened its newest branch in Shanghai’s Putuo Rong Chuang Xiang Yi luxury estate area.
This brings the Jollibee Group’s store network in Mainland China to 424 Yonghe King branches, 58 Hong Zhuang Yuan, and 18 Tim Ho Wan stores as of February 2022.
Ernesto Tanmantiong, Jollibee Group president and CEO said the company is encouraged by the warm welcome of the brands in mainland China.
“This year, we will continue to open more stores in China as we see potential for more growth. All three of our brands in the region will be debuting in new provinces and cities this year, in line with our vision of becoming one of the top five restaurant companies in the world,” Tanmantiong said.
Yonghe King’s new branch, near famous tourist attractions and iconic landmarks in the Putuo District, is Jollibee Group’s 103rd store in Shanghai.
This shows the restaurant company’s success in claiming stake in one of the most profitable parts of mainland China, said Tanmantiong.
Shanghai remains as one of the world’s global financial hubs, as well as one of the world’s most populous cities.