(Sources: Inside Retail Asia | 22 July 2016)
Philippine fastfood giant Jollibee Foods Corp is keen to expand its footprint in China.
Jollibee China is likely to add 20 to 40 new stores to its 400 outlets, according to Jollbee CEO Ernestro Tanmantiong. He said the company continues to target 5 to 10 per cent growth in stores.
“We are exploring acquisitions. Our focus is on food service,” he said, adding that the company had acquired a commissary to support its business.
Early this year, Jollibee Foods took over a food manufacturing facility that services Yonghe King, a famous non-Western restaurant in China.
Asked about the recent international ruling on the West Philippine Sea and its impact on the business, Tanmantiong said the company thinks the ongoing dispute is unlikely to hurt the company’s operations in China.
“I think the move of the government to employ diplomacy is the best way to settle the differences. It is the best solution,” Tanmantiong said.
“Our vision in the future is to achieve a 50-50 ratio of international versus Philippines. Today, it’s 80 per cent Philippines and 20 per cent international. We hope to achieve a 50-50 ratio but it doesn’t mean we are slowing down in the Philippines,” he said.