Month: September 2018

Fruitas branches out with launch of new brands, provincial expansion

RIDING on the economic dynamism of key cities and provinces outside the capital, Fruitas Holdings Inc. (FHI) expanded its network in the Visayas and Mindanao with 70 new stores, bringing its total store count to 849.

In keeping with its goal to serve the fast-growing food cart industry, FHI opened more than 70 new stores this year. Its growth was driven by its entry into new markets outside Metro Manila, including locations in Cebu, Davao, Dagupan, Leyte, Iloilo and Cagayan de Oro, as well as the opening of new food brands.

Further driving its expansion was the launch of food brands serving various market segments, which include Cascades Lifestyle Park, UVA, Chikenini and LA Steak.

“Fruitas Holdings plans to further strengthen our footprint outside Metro Manila. We have been doubling our number over the past years and would like to sustain this momentum,” said Lester Yu, Fruitas Holdings Inc. president and CEO.

In 2017 FHI reported P1.2 billion in consolidated sales, a 130-percent increase from its half-a-billion sales in 2016, which was driven by aggressive expansion and opening of stores for the year. The company has been almost doubling their stores for the past two years. In 2016 FHI capped the year with 415 stores, a 60-percent increase from 2015. Last year FHI ended with over 750.

Alongside its expansion, Fruitas Holdings also partnered with GCash to integrate the Scan-to-Pay feature into their payment system, which allows their customers to do cashless transactions in 45 of its pilot stores. The company is targeting to launch the mobile payment system in all FHI brands nationwide by end-2018.

“To advance the growth of our physical stores, we also plan to grow with technology through GCash. It will be an opportunity for us to provide an easier and more efficient payment system and create a better experience for our consumers,” Yu said.

Fruitas Holdings Inc. currently has over 20 brands under its portfolio namely Fruitas Fresh From Babot’s Farm, Buko Loco, Juice Avenue, Buko Ni Fruitas, Fruitas Ice Candy, De Original Jamaican Pattie Shop and Juice Bar, The Mango Farm, Johnn Lemon, Black Pearl, Cindy’s Candy Cloud, Tearex, Shou La-Mien Hand-Pulled Noodles, Friends Fries, 7,107 Halo-Halo Islands, The Pub, Munifico Pizzeria, Fancie, Fruitas House of Desserts, Uno Cinquenta The Lifestyle Park, Le Village The Lifestyle Park, and Cascades The Lifestyle Park.

FHI is the leading group in the food cart industry in the Philippines. Since its first stall opened in 2002, the group now has over 800 stores all over the country and over 20 brands in its portfolio.

*this article was copied and originally published in BusinessMirror, last September 14, 2018 and can also be found at https://businessmirror.com.ph/fruitas-branches-out-with-launch-of-new-brands-provincial-expansion/

Jollibee opening in UK, Manhattan, Macau

By James Loyola

Jollibee Foods Corporation (JFC) is set to open its first Jollibee stores in three different milestone locations – UK, Manhattan, and Macau — as part of its overseas expansion plans.

Manila Bulletin

Manila Bulletin

This development comes as the company continues its rapid expansion in order to even the share of domestic to international sales.

The first Jollibee store in UK will have its grand opening on October 20, and a few weeks before, the Macau branch will do its grand opening on September 28. The Manhattan, New York store will open within a few months.

JFC is bringing the company’s well-loved brand to Filipinos abroad to give them a “taste of home.”However,on top of serving Filipinos overseas, JFC has seen the success of Jollibee in catering to local markets.

In Vietnam and Brunei, all of its customers are locals. Jollibee is in fact the fastest growing chain in Vietnam while it is one of the top fastfood chains in Brunei.

In Hong Kong and Singapore where it has added more stores, more than half of its customers are locals. JFC envisions to continue replicating its success in the Philippines, Vietnam, Brunei, Hong Kong and Singapore in other markets soon.

In 2013, JFC became the number one restaurant company in Asia, in terms of market capitalization and is now the world’s largest Asian Restaurant Company.

The fast-food giant is now aiming to be among the Top 5 Largest Restaurant Companies in the world in terms of market capitalization.

To achieve this, JFC identified focusing on the two largest economies in the world, namely China and United States, and for continued expansion in other parts of the world, while sustaining business growth in the Philippines.

 

*this article was copied and originally published in Manila Bulletin , last September 12, 2018 and can also be found at https://business.mb.com.ph/2018/09/12/jollibee-opening-in-uk-manhattan-macau/

Jollibee buys 47% stake in US-based Mexican restaurant

By Richmond Mercurio

MANILA, Philippines — Filipino fastfood giant Jollibee Foods Corp. (JFC) is acquiring $12.4 million worth of shares in a US-based restaurant chain that serves Mexican food.

JFC told the local bourse yesterday that its wholly-owned subsidiary Jollibee Foods Corp. (USA) has entered into a business venture with Tortas Frontera LLC owned by award-winning chef Rick Bayless to build a Mexican fast-casual restaurant business in the US.

JFC will invest $12.4 million for 47 percent of the fully-diluted membership interests in Tortas Frontera.

The remaining 53 percent membership interests in Tortas Frontera will be held by Bayless and other shareholders.

JFC said the transaction is still subject to the fulfillment of agreed closing conditions.

The fastfood giant said the partnership is in line with its strategy to continue building its business abroad and expanding its presence in North America.

The company said Mexican food is a rapidly-growing and very popular segment in the US restaurant industry with estimated sales of $45 billion in 2017.

“Together with chef Rick Bayless’ organization and brand Tortas Frontera, we will build a significant business in the large and fast-growing Mexican food category in the United States. This venture is very much in line with JFC’s mission: to serve great tasting food and spread the joy of eating to everyone,” JFC chairman Tony Tan Caktiong said.

Tortas Frontera, which is headquartered in Chicago, Illinois, currently has four restaurants in the US – three in Chicago O’Hare International Airport and one at The Arc in the University of Pennsylvania.

It is owned and founded by Bayless, an award-winning chef and is author of nine cookbooks.

“We at Jollibee Foods Corp. are very excited about this new partnership. We have great admiration for chef Rick Bayless for being a top chef, for being a successful restaurateur and for his philanthropic endeavors,” Tan Caktiong said.

JFC is Asia’s largest food service company with 4,279 stores worldwide as of end-June.

The company has a total of 436 stores in North America composed of 349 Smashburger, 37 Jollibee US, three Jollibee Canada, 32 Red Ribbon, and 15 Chowking.

In the Philippines, it has 2,957 restaurant outlets, including 1,094 Jollibee brand, 542 Chowking, 277 Greenwich, 434 Red Ribbon, 514 Mang Inasal, and 96 Burger King.

*This article was copied and originally published at The Philippine Star, last September 8, 2018 and can also be found at https://www.philstar.com/business/2018/09/08/1849534/jollibee-buys-47-stake-us-based-mexican-restaurant

Jollibee invests P668 million in US Mexican restaurant chain

By James A. Loyola

Jollibee Foods Corporation (JFC), Asia’s largest food service company, is investing about P668 million to venture into the $45-billion Mexican fast-casual restaurant business in the United States (US) in partnership with award-winning Chef Rick Bayless.

In a disclosure to the Philippine Stock Exchange, Jollibee said its wholly-owned subsidiary Jollibee Foods Corporation (USA) has entered into a business venture with Bayless’ Tortas Frontera LLC.

JFC will invest US$12.4 million in Tortas Frontera, which owns the Tortas Frontera business founded by Bayless, in consideration for 47 percent of the fully-diluted membership interests therein.

The remaining 53 percent membership interests in Tortas Frontera shall be held by Chef Rick Bayless and other shareholders. The transaction is subject to the fulfillment of agreed closing conditions.

Bayless is the founder of Tortas Frontera restaurants, which feature handcrafted tortas, fresh-made guacamoles, and hand-shaken margaritas. He is known for his award-winning Chicago restaurants, longrunning Public Television series and for winning the title of Bravo’s Top Chef Masters with his authentic Mexican cuisine.

“We at Jollibee Foods Corporation are very excited about this new partnership. We have great admiration for Chef Rick Bayless for being a top chef, for being a successful restaurateur and for his philanthropic endeavors,” said JFC Chairman Tony Tan Caktiong.

He added that, “together with his organization and brand Tortas Frontera, we will build a significant business in the large and fast-growing Mexican food category in the United States. This venture is very much in line with JFC’s mission: To serve great tasting food and spread the joy of eating to everyone!”

Mexican food is a rapidly-growing and very popular segment in the United States restaurant industry with estimated sales of US$40 billion to $45 billion in 2017.

Tortas Frontera, with headquarters in Chicago, Illinois, currently has 4 restaurants in the United States – three in Chicago O’Hare International Airport and one at The Arc in the University of Pennsylvania.

The Tortas Frontera restaurants use high-quality ingredients with recipes capturing the vibrant flavors of Mexico.

Earlier, Jollibee Foods Corporation (JFC) reported a 16.1 percent growth in attributable net income to P4.05 billion in the first half of 2018 from the P3.49 billion earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, Jollibee said its net income for the period included foreign exchange gains of P69.1 million.

System wide sales, a measure of all sales to consumers both from company-owned and franchised stores grew by 23.2 percent to P99.91 billion from P81.08 billion while revenues rose 21.4 percent to P75.1 billion from P61.84 billion. Excluding the impact of the consolidation of Smashburger effective April 17, 2018, system wide sales grew by 18.7 percent for the first half of 2018.

System-wide sales grew by 26.8 percent in the second quarter compared to sales in the same period of 2017. Without Smashburger, system-wide sales grew by 18.1 percent for the second quarter of 2018.

*This article was copied and originally published at Manila Bulletin,  last Sept. 7, 2018 and can also be found at https://business.mb.com.ph/2018/09/07/jollibee-invests-p668-million-in-us-mexican-restaurant-chain/

Franchising business sparks quick growth, says PFA official

A Philippine franchise guru is urging Negrenses to go into franchising because it holds huge prospects of financial growth.

Bing Sibal-Limjoco, Philippine Franchise Association official and Francorp Chief Executive Officer, said those who have gone into franchising have grown big including businesses coming from Negros Occidental.

During the Franchise Negosyo Para sa Bacolod, Wednesday August 29, she mentioned Felicias, Munsterric and Chefs and Bakers among local enterprises that went into franchising.

She particularly cited Potato Corner that started small but is now an international brand having branches abroad including the United States.

Potato Corner is owned by Joe Magsaysay whose wife hails from Negros Occidental.

She said there are more than 1,500 franchise brands in the country and about 32 percent is foreign and 68 percent local.

A franchise expo is scheduled August 29 to September 2 at the L’ Fisher Hotel and SM City Bacolod Activity Center which is part of the Visayas Area Business Conference.

Limjoco said the world is also investing in the Philippines because it is one of the fastest growing economies in the world and has a huge market having more than 100 million population.

She shared emerging trends in food that include rise of halal restaurants, mainstreaming of regional delicacies via franchising and fashion retailers diversifying to food businesss.

Emerging business trends in general are self-service service laundry, 24- hour Gym and house keeping services.

Other trends include health and wellness, travel and tourism related businesses, retirement- related businesses and education/tutorial services.

Limjoco said the Duterte administration will usher in the golden age of small enterprise as it focuses on strengthening support to small and medium enterprises (SMEs) and countryside development.

“The administration is tied with the ‘golden age of infrastructure’ that could spell better business infrastructures to fit the needs of different industries, she said. (JBG/Lljr-PIA6)

*this article was copied and published originally at Negros Daily Bulletin, last Aug. 31, 2018 and can also be found at http://www.ndb-online.com/august3118/franchising-business-sparks-quick-growth-says-pfa-official

Expo seen to spur franchise investment opportunities

THE Philippine Franchise Association (PFA) is optimistic that the just-opened franchise exposition in Bacolod City will spur franchise investment opportunities especially for food, retail and service sectors in Negros Occidental.

PFA officials headed by their founding president and chairman emeritus Samie Lim and vice chairman Bing Sibal-Limjoco led the opening of the two-day Franchise Expo at L’Fisher Hotel.

Dubbed “Franchise Negosyo para sa Bacolod,” it will run until today, August 31.

Participated by 18 exhibitors in the country, the activity is part of the ongoing 27th Visayas Area Business Conference and Agriculture and Livestock Expo hosted by the Metro Bacolod Chamber of Commerce and Industry (MBCCI) and the Provincial Government of Negros Occidental.

PFA president Richard Sanz, in a statement, said the expo forms part of the association’s Franchise Negosyo Roadshow that aims to contribute to the economic development by providing business opportunities to the people in the regional areas.

“We are excited with our franchise expo in Bacolod City because it is one of the most progressive cities in the country,” he added.

PFA cited that in the Cities and Municipalities Competitiveness Index 2018 recently released by the National Competitive Council, Bacolod ranked first among highly urbanized cities in the Visayas and number eight most competitive city nationwide.

It is also this year that the city was awarded as “Most Business-Friendly City” by The Manila Times, the association said.

“It is a perfect time for Bacoleños to ride on the growth momentum. It will impact not only to their local economy but to the entire nation as well,” Johnny Que, PFA director for Western Visayas, said.

For his part, Bacolod City Vice Mayor El Cid Familiaran, who was also present during the opening rites, said the local government is optimistic that the expo will create new businesses and employment for the locals.

“This is a perfect timing since Bacolod is moving towards the direction of being the most competitive city in the country,” Familiaran said.

Also present during the opening ceremony were MBCCI president Roberto Montelibano, Department of Trade and Industry–Negros Occidental Director Lea Gonzales, Provincial Administrator Lucille Gelvolea and Silay City Mayor Mark Andrew Arthur Golez.

Still part of the “Franchise Negosyo para sa Bacolod,” PFA and MBCCI also conducted a seminar of franchising on Wednesday.

At least 40 local enterprises were taught on how to franchise business and how to invest in the right franchise.

Sibal-Limjoco earlier said current opportunities in franchising industry are growing, which small and medium enterprises (SMEs) in the province may take advantage of.

“The Philippines is now considered as the franchise hub in Asia,” she told SunStar Bacolod, adding that “Negrenses are really into entrepreneurship thus, franchising potentials are still huge here.”

Also part of the three-day 27th Visayas Area Business Conference and Agriculture and Livestock Expo running until today, MBCCI conducted the Aspire (Agribusiness Support for Promotion and Investment in Regional Expositions) Forum and Business Matching still at L’Fisher Hotel yesterday.

Aspire is aimed at integrating marketing development support services to farmers, fisherfolk, micro-small and medium enterprises (MSMEs) and other stakeholders.

National and local chamber officials also opened the two-day Agriculture and Livestock Expo at SM City Bacolod Activity Center yesterday.

The business conference proper is scheduled today at the said hotel, where Governor Alfredo Marañon Jr. will be the keynote speaker during the opening rites.

Plenary session topics include Philippine Constitutional Review: Proposals Affecting Economy and the Federated Regions, Neda Briefs: Information Needed by Business and Government Planners, Tourism Sustainability: The Boracay Experience, and Investing in Sustainable Tourism.

Senate committee on agriculture and food chair Senator Cynthia Villar will talk on Food Security and Government Interventions in Agriculture this afternoon.

*this article was copied and originally published in SunStar Bacolod, last Aug. 31, 2018 and can also be found at https://www.sunstar.com.ph/article/1761983/Bacolod/Business/Expo-seen-to-spur-franchise-investment-opportunities

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