Filipino fastfood giant Jollibee Foods Corp. sees Vietnam and India as the next countries where it wants to aggressively expand after conquering the local industry and establishing a solid presence in China.
“We would like to focus more in Vietnam because it is a growing economy so I would like to focus our efforts there,” Jollibee Chairman Tony Tan Caktiong said in a chance interview. The company, he said, currently has 10 to 12 Jollibee outlets in Vietnam and so far, the stores are doing well.
Satisfied with the performance of its outlets, Tan Caktiong said it will be good to make a strong presence in the country although the company has yet to come up with how many more branches it plans to open.
After conquering China, Jollibee Foods Corp. wants to expand its operations to Vietnam and India.
First established in 1975, the then small Magnolia ice cream parlor in Cubao has grown into the largest fastfood network in the country with a total of 1,534 stores nationwide. Aside from the Jollibee brand, the company also owns various fastfood chains, including Chowking, Greenwich, Red Ribbon, Delifrance and Manong Pepe.
The company is also making headway in its international operations and currently has 327 stores scattered in countries like the United Arab Emirates, the United States and neighboring countries like Indonesia, Taiwan, and China, among others.
Jollibee has acquired a number of stores in China and Taiwan, namely Yonghe King and Hong Zhuang Yuan in China and Lao Dong in Taiwan.
Tan Caktiong said the group will continue to focus in China, Indonesia and in US where it recently opened its 27th branch in Las Vegas, Nevada. This is in line with the group’s ambitious plan to have 3,000 Jollibee stores outside the Philippines by 2020.
