Jollibee aggressively expands globally and beyond fast food

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yong
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Jollibee aggressively expands globally and beyond fast food

Post by yong »

Strangely I personally finds their hamburgers pretty good I had when I visited the Philippines.

https://asia.nikkei.com/Business/Food-B ... 8&si=44594

Jollibee aggressively expands globally and beyond fast food
Filipino empire takes full control of Tim Ho Wan as it spreads across 33 regions

Image
Filipinos working abroad have helped the Jollibee chain spread globally, especially in the U.S. and Middle East. © AFP/Jiji
YUICHI SHIGA, Nikkei staff writerSeptember 27, 2021 16:22 JST

MANILA -- Filipino restaurant giant Jollibee Foods is attempting to set itself up for rapid growth once the pandemic winds down with an aggressive global brand acquisition strategy that is moving the group further away from its fast-food roots.

In August, the company said it would acquire the remaining 15% stake in Tim Ho Wan from its partner Titan Dining for 71.56 million Singapore dollars ($52.8 million). Jollibee initially bought a 45% interest in Tim Ho Wan for SG$45 million in May 2018, then gradually increased the stake up to 85% as of October 2020.

Tim Ho Wan is a popular Hong Kong-based, Michelin-starred restaurant chain known for inexpensive but high-quality dim sum dishes. When Jollibee bought its first stake in the chain, Titan had the right to operate the Asia-Pacific outlets. But Titan later acquired both Tim Ho Wan's brand and trademark.

Tim Ho Wan operates over 50 mostly franchised stores across Asia, primarily in Singapore, Taiwan, the Philippines and Hong Kong. Since Jollibee began purchasing its stake, the chain has expanded its presence in mainland China as well. A joint venture between Jollibee and Titan opened a Tim Ho Wan restaurant in Shanghai, the chain's first outlet in China, last September. The group has since grown its presence in the huge market and plans to increase the number of its restaurants in China to 100 in the next four years.

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Hong Kong-based Tim Ho Wan is Michelin-starred restaurant chain known for inexpensive but high-quality dim sum dishes. © Getty Images

The Jollibee group was operating 5,816 outlets around the world, including around 3,200 in the Philippines, as of June 30, serving their signature fried ChickenJoy, burgers and other dishes. Jollibee is the largest fast-food chain in its home country, operating more restaurants than McDonald's there. But Jollibee brand restaurants account for only 26% of the group's outlets around the world.

The company's acquisition spree so far has resulted in a takeout empire that includes a variety of quick-service brands. With 17 brands in 33 countries already, Jollibee CEO Ernesto Tanmantiong has said overseas operations will drive the conglomerate's revenue growth this year and beyond.

In September 2019, the group announced it had acquired U.S.-based The Coffee Bean & Tea Leaf for $350 million. Before the acquisition, Jollibee was operating some 4,600 locations, a figure that has grown by 25% in the past two years.

The group has never been gun-shy about investing in businesses. In 2018, it bought out Denver, Colorado-based Smashburger. In 2012, it purchased a 50% stake in SuperFoods Group, a Vietnamese restaurant group that operates coffee shop chain Highlands Coffee and Vietnamese noodle house chain Pho 24.

The Jollibee fast-food chain itself has also been expanding its international footprint, though with outlets that mainly cater to Filipinos working abroad. The Philippines' large English-speaking population is a major source of immigrant workers. Some 10 million Filipinos, 10% of the population, work outside the Southeast Asian country, according to estimates. The U.S. and the Middle East attract many of these workers.

The acquisitions of Tim Ho Wan and The Coffee Bean & Tea Leaf will help Jollibee's expansions in the Chinese and U.S. markets as a diversified player. Jollibee has announced its intention to enhance its Chinese food offerings through Tim Ho Wan and other operations.

The group racked up 71.3 billion pesos ($1.4 billion) in sales in the first six months of 2021, up 13.7% from a year earlier. It earned 1.1 billion pesos in net profit in the first half, a drastic turnaround from an 11.9 billion peso loss one year earlier. Overseas markets contribute around 40% of the company's overall revenue, and its overseas businesses hold strong growth potential. The group now plans to rev up its global expansion strategy as it eyes rapid growth once the pandemic winds down.
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newkidontheblock
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Re: Jollibee aggressively expands globally and beyond fast food

Post by newkidontheblock »

Their burgers must be better in the Philippines. Here in the US, it’s a double fried mess. The chicken joy is even scarier. Fries are triple fried with a side helping of oil.

Hope their Dim Sum restaurant tastes better.
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Re: Jollibee aggressively expands globally and beyond fast food

Post by Clutch Cargo »

Dunno about their burgers but in the PI they have some pretty disgusting menu items like this..
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Then they have some sort of side rice dish with just gravy on top. :bad:
Image

That and their love for deep fried chicken and Lechon (oily roast pig) and restaurant chains like Greenwich Pizza and Pasta and no wonder the general population is getting more 'baboy' over there.
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Re: Jollibee aggressively expands globally and beyond fast food

Post by Jerry Atrick »

Not a fan of Filipino food, even less so Filipino fast food

But it sells I guess
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John Bingham
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Re: Jollibee aggressively expands globally and beyond fast food

Post by John Bingham »

Image

That's an advertising shot of their food, just imagine what it's like in real life. :bad:

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Re: Jollibee aggressively expands globally and beyond fast food

Post by bossho »

That's an advertising shot of their food, just imagine what it's like in real life.


John Bingham



Nestle had to be one of the first corporations to go into colonized places and exploit the local food source and the poor people living there. They and now many others work hard to create food junkies and they start when they are newborns.
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Re: Jollibee aggressively expands globally and beyond fast food

Post by Chuck Borris »

Majority of any fast food taste same-crap.
Don"t Eat The Yellow Snow.
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John Bingham
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Re: Jollibee aggressively expands globally and beyond fast food

Post by John Bingham »

bossho wrote: Tue Sep 28, 2021 9:03 pm
That's an advertising shot of their food, just imagine what it's like in real life.

John Bingham

Nestle had to be one of the first corporations to go into colonized places and exploit the local food source and the poor people living there. They and now many others work hard to create food junkies and they start when they are newborns.
What has Nestlé got to do with this?
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Re: Jollibee aggressively expands globally and beyond fast food

Post by bossho »

John Bingham wrote: Wed Sep 29, 2021 1:11 am
bossho wrote: Tue Sep 28, 2021 9:03 pm
That's an advertising shot of their food, just imagine what it's like in real life.

John Bingham

Nestle had to be one of the first corporations to go into colonized places and exploit the local food source and the poor people living there. They and now many others work hard to create food junkies and they start when they are newborns.
What has Nestlé got to do with this?
It was a comment to the beginning of all poor nutrition high cost snack foods in this region so yes, it's a non sequitur to insert here but your photo ad of the gnarly food reminded me of Nestle and their history in places like Indonesia and the Philippines and then to go there and see it, the kids eating ice creams or choco milk snack crisps for .80 cents a serving and passing on the local fare their parents ate at the same age. Nestle engineered a lot of this in this region and made it so for crappy food places like Jollibee to exist at all, most Jollibee customers have already developed some food addictions and medical conditions occur in a high percentage of them, and they got an early start with all these bad eating habits with Nestle in most cases. Check it out, there is loads on this topic out there. It makes standard law and order colonization that we picture in our mind often when the word "colonization" is used look humane when you compare it to the predatorial tactics of baiting impoverished people with sugar and cream and hydrogenated oils that is after you wiped out the last of the paleo tribespeople there and grew your stuff your way - profitably - of course. Thus Nestle which is like 170 + years into this type of thing now- of course they re probably real green and save the world, snails and seals officially now but its blood money like the Congo was for Leopold. Places like Jollibee are not far behind they are just a few generations after, its plausible that someone has an earlier example of this corporate colonization by food that sees this? Nestle got cooking in the 1850's I believe..........
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Re: Jollibee aggressively expands globally and beyond fast food

Post by Doc67 »

yong wrote: Tue Sep 28, 2021 11:38 am Strangely I personally finds their hamburgers pretty good I had when I visited the Philippines.

https://asia.nikkei.com/Business/Food-B ... 8&si=44594

Jollibee aggressively expands globally and beyond fast food
Filipino empire takes full control of Tim Ho Wan as it spreads across 33 regions

Image
Filipinos working abroad have helped the Jollibee chain spread globally, especially in the U.S. and Middle East. © AFP/Jiji
YUICHI SHIGA, Nikkei staff writerSeptember 27, 2021 16:22 JST
Strangely I personally finds their hamburgers pretty good I had when I visited the Philippines.


I'm shocked at you Yong. After all your foodie video how can you make such an admission? :D
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