Tuesday, 21 April 2009

Philippines' Jollibee to open 3,000 overseas stores

Manila Bulletin

Jollibee Foods Corporation is aiming to open 3,000 stores overseas over the next 10 years, about 75 percent of the 4,000 stores it hopes to have operating by 2020.

“We envision that by the year 2020, Jollibee will already have 4,000 stores, 75 percent of which are outside the Philippines,” said Jollibee vice president for international operations Dennis Flores.

He noted that “we know it will be tough to achieve but if you look back 30 years ago when this company started, would you have believed how it has grown this big from just an ice cream parlor.”

Fresh from opening its store in Queens, New York last February 14 its first in the East Coast, USA Jollibee has already set its sights on other populous cities.|

Flores said 12 more stores are in the works for Jollibee’s operations in Asia this year four each in Saudi Arabia and Vietnam, two in Dubai and one each in Qatar and Brunei. Macau is also another area that is currently being considered.

In the US, Jollibee hopes to open seven more stores in various locations Plaza Bonita in San Diego, Rosemead and New West Covina in South California, Village Square and Colonnade both in Las Vegas, Oceanside in San Diego, and Concorde Seafood City in North Carolina before the end of 2010.

“As of the fourth quarter of 2008, our foreign operations accounted already for 15.9 percent of our system wide sales. Our aim is to derive at least half of our revenues from outside of the Philippines at some point in the future, both from organic growth and acquisitions even as we expect our Philippine business to sustain a healthy growth rate in the years to come,” said JFC chairman Tony Tan Caktiong.

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