PHILPPINES-FAST FOOD ALA SOUTH EAST ASIA.
Philippines’ Only Jollibee Food Corporation
Christine Layug
In many fast-food restaurants present in the Philippines today, there is still one brand of fast-food chain that Filipinos all over the world flock to, and that is Jollibee. Aside from other fast-food chains like McDonald’s, Wendy’s, or Burger King, Jollibee is one of the many fast-food chains that can be considered as a true Filipino-made restaurant.
Jollibee Food Corporation, or widely known as simply Jollibee, is a fast-food restaurant chain based in the Philippines. Just like McDonald’s, Jollibee is an American-style fast-food restaurant with Filipino-influenced dishes specializing in burgers, spaghetti, chicken and some local Filipino dishes like palabok, tocino, longganisa, beef tapa, and many more.
Jollibee Food Corporation is currently known as the biggest fast-food chain in the country. Aside from the Philippines, it also has locations in the United States, Saudi Arabia, Hong Kong, Vietnam, Malaysia, Indonesia, Dubai and Brunei.
As of December 2007, Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide (although its own web site, claims only 600) and total sales of more than $1 billion. It is also reported that as of March, 2008, JFC has 1,466 stores in the Philippines namely, Jollibee, Chowking, Greenwich Pizza, Red Ribbon Bakeshop, D￩lifrance, and more recently the Manong Pepe’s.
Part of what made Jollibee Food Corporation successful is their acquisition of other fast-food restaurants in the Philippines, namely those brands stated above. But aside from those fast-food restaurants, Jollibee also has other acquisitions outside of the country. In 2007, Jollibee acquired the Chinese fast-food chain Hong Zhuang Yuan. Aside from Hong Zhuang Yuan, Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe King for $ 22.5 million.
Aside from acquisitions, Jollibee also entered into a joint- venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, USA., in which Jollibee will have a 12% stake in the US-based Asian restaurant for $ 950,000.
Because of the continuous success of Jollibee in the fast-food industry, it have been reported that as of end-September, 2008, Jollibee Food Corporation has 1,490 local and 228 foreign stores in its portfolio.
