Jollibee set to open first store in Canada

  • Page Views 1570
  • jollibee

    Jollibee Foods Corp., the biggest fastfood chain in the Philippines, will open its first store in Canada this year. Jollibee chief finance officer Ysmael Baysa said in an interview at the sidelines of the Philipine Investment Forum sponsored by Euromoney the company was looking at Toronto as the site of its first store in Canada.

    “We hope to be in Canada within the year,” Baysa said. Jollibee also plans to open more stores in the Middle East and set foot in Japan and some parts of Europe over the next two to three years.
    Baysa, meanwhile, said it planned to open five Dunkin Donut outlets this year in China.

    Jollibee in December signed a joint venture agreement with Jasmine Asset Holdings Ltd. to operate Dunkin’ Donuts restaurants in selected territories in China.

    Dunkin’ Donuts is one of the world’s largest baked foods and coffee chains, serving more  than 5 million customers a day globally.

    Jollibee committed to invest $180 million in the joint venture while Jasmine would add $120 million.

    Jollibee’s wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. will be responsible for the day-to-day operations of the business.

    Jollibee plans to open 330 stores this year, including 220 in the Philippines and 110 overseas.

    The company’s aggressive store rollout forms part of the P9.1-billion programmed capital spending this year.

    Jollibee operates the largest food network in the Philippines with 2,301 stores as of end 2014. Aside from its flagship brand Jollibee, the fast-food giant owns Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King. It operates 612 stores overseas. Jollibee posted a 12.7-percent increase in net income in 2014 to P5.26 billion against P4.67 billion registered in the same period a year ago.

    System-wide retail sales, a measure of all sales to consumers both from company-owned and franchised stores, grew 13.3 percent in 2014 to P117.89 billion from P104.09 billion in 2013.

    The sales growth in 2014 was driven by an eight percent same store sales expansion in local and overseas operations and a 5.4-percent increase in store network. Jollibee in 2014 opened 234 stores, including 169 in the Philippines and 65 abroad. (J. Austria, MS)

    Share

    Related Post

    Related Blogpost

    Leave a Reply

    New Posts Recently publish post More

    • 20 October 2018
      11 hours ago No comment

      Vote Filipino Canadian candidates in October 20 Municipal elections

      Hector Bremner (Mayor) – YES Hector Bremner is the only candidate with Vancouver City council experience running for Mayor and is Yes Vancouver’s founding mayoral candidate. Councillor Bremner’s life and career have been marked by recognizing good ideas, getting things done, and bringing people together. He feels blessed to ...

    • 20 October 2018
      13 hours ago No comment

      When nothing can stop Leni

      As Vancouver waits for the elections to be over and done with, the Filipino community, through the Philippine Bicolano Association of BC (PBABC), welcomed Vice President of the Philippines Leni Robredo, who came to Vancouver from San Diego, California, before heading back home. She brought in breath of fresh ...

    • 20 October 2018
      15 hours ago No comment

      VP Robredo Visits Vancouver

      Vice President of the Philippines Leni Robredo visited Vancouver this week to grace the 28th Anniversary of the Philippine Bicolano Association in BC (PBABC) held at the Hilton Hotel in Burnaby. Around 250 guests came to see and hear Robredo speak to the crowd of mostly eager kababayans from ...

    • 19 October 2018
      1 day ago No comment

      Citizenship Week Welcomed 6442 New Canadians

      Going to great heights with Canada’s newest citizens Ottawa, ON – This year during Citizenship Week, 6442 people became new Canadians at 72 special citizenship ceremonies across Canada. Citizenship Week (October 8-14) also marked the 1 year anniversary of Bill C 6, which brought in important changes to the ...

    • 18 October 2018
      2 days ago No comment

      Why Maine is well-loved, according to Coco

      Having worked with Maine Mendoza as his first-time leading lady, Coco Martin now understands why the actress-host is well-loved by her fans. Martin and Mendoza, along with comedy icon Vic Sotto, are starring in the Metro Manila Film Festival entry “Jack EM Popoy: The Puliscredibles.” According to Martin, they ...

    %d bloggers like this: