Tag: Jollibee

Jollibee’s Tan Caktiong’s recipe for success: ‘Dream big, work hard’

By James A. Loyola, Manila Bulletin, July 6, 2019

Billionaire Tony Tan Caktiong, the founder and chairman of fastfood giant Jollibee Foods Corporation, emphasized the need to set ambitious but clear goals when embarking on a new business as his secret to success.

“Dream big and whenever you achieve your dreams – dream even bigger. When Grace, my wife and I opened our first store, we already aspired to make Jollibee the largest restaurant company in the Philippines,” Tan said in his Asian Institute of Management Doctorate Conferment and Commencement speech.

Starting from that one store 40 years ago, Jollibee is now the largest in the Philippines and is one of the fastest growing Asian food companies in the world. The firm has already set its sights on being among the top five food companies in the world.

“For those of you who might remember – The original spelling of our brand Jollibee was with a ‘Y’, which we quickly changed to an ‘I’ because even if we were just starting out without any guarantee we would even succeed and ever set foot outside the Philippines one day, we already wanted to ensure the brand name can be registered globally,” Tan noted.

But he urged young entrepreneurs to dream big, he also cautioned against of dreaming too many.

“Dreams do come true, but one cannot have dozens or hundreds of dreams. If you choose too many, you’ll almost certainly achieve none of them. Choose 1 or 2 and give it your best,” he urged.

Aside from having a dream, Tan said it has to be paired with hard work. “Jollibee was not an overnight success. Our entire family had to work very hard – all my siblings included,” he said.

Another component to his success is not being afraid to fail because, “Failure, assuming you learn from them can be the best teacher. I can say firsthand that some of the greatest and most meaningful learnings come from failures. Needless to say, I continue to make them to this day.”

But he warned against committing the same mistake twice calling it “inexcusable”.

Tan’s insatiable thirst for success added his determination to hit his goals. He shared that “incessant thirst and love for learning” help businesses adapt to changes and not to become obsolete.

In addition, he credits his success to having the support of the right people.
“Choose and surround yourself with people whose capabilities are far greater than yours and who likewise share the same dream, passion, values and principles. I can assure you that you cannot do it alone,” he said.

“For me, I instantly won the jackpot by choosing Grace, the best partner I could ever have in life, and my family especially all my siblings, including my brothers and sisters in-law who have given their unwavering support in many ways,” Tan concluded.


This article is written by the Author in the by-line and was originally posted by Manila Bulletin in their website which can be accessed at https://business.mb.com.ph/2019/07/06/jollibees-tan-caktiongs-recipe-for-success-dream-big-work-hard/

Jollibee nets P2B in Q3 amid global push

HOMEGROWN food giant Jollibee Foods Corp. (JFC) expanded its attributable profit by a fourth from July to September, lifted by its global store expansion alongside the consolidation of American burger chain Smashburger into its portfolio.

In a disclosure to the stock exchange on Monday, JFC said net income attributable to equity holders of the parent climbed to P2.04 billion in the third quarter of 2018, 26% higher year-on-year. Its topline also registered a 22% increase to P39.75 billion, on the back of a 26% uptick in system-wide retail sales to P53.27 billion.

The listed firm attributed the system-wides sales increase to the consolidation of Smashburger into its portfolio. Without Smashburger, JFC’s system-wide sales for the third quarter went up by 16%, following a same store sales growth of 6% coupled with changes in foreign exchange rates.

Smashburger drove the North American business 218% higher. Without Smashburger, the North American business grew by 30.3%.

Meanwhile, its business in Europe, Middle East, and Asia ex-Philippines improved by 32%, while China went up by 5.2%.

The Philippines business, on the other hand, firmed up by 15%, after same-store sales growth reached seven percent. JFC’s local business accounts for 70% of system-wide sales.

This brought JFC’s attributable profit 19.2% higher to P6.09 billion in the first nine months of the year, after revenues logged a 21% increase to P114.84 billion. System-wide retail sales for the period also surged 24% to P153.18 billion.

Earnings per share on a year-to-date basis went up by 18.4% to P5.60.

“Sales grew strongly in most regions in the world including the Philippines. We are encouraged particularly by the strong performance of Jollibee and Highland Coffee in the Socialist Republic of Vietnam which have been growing by 35% driven by high same store sales and the opening of 73 new stores in the first nine months of the year with strong return on investments,” JFC Chief Financial Officer Ysmael V. Baysa said in a statement.

The JFC Group’s worldwide store network stood at 4,353 by end-September, after opening 302 stores during the period. Of this, 3,003 are located in the country across several brands such as Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, and Pho 24.

Overseas, the group also manages other brands like Dunkin’ Donuts, Yonghe King, Hong Zhuang Yuan, Highlands Coffee, Hard Rock Cafe, and Smashburger.

The nine-month period saw JFC’s entry into new markets, including Milan, Italy last April, Macau in June, and the United Kingdom in October. The company looks to open Jollibee stores in Malaysia and Guam in the following months.

Mr. Baysa said they expect the new stores to further improve earnings with the next one to two years, amid “episodes of high inflation rate and the acquisition of new businesses.”

Shares in JFC fell by 1.44% or P4 to close at P274 each on Monday. — Arra B. Francia

*this article was copied and originally published in BusinessWorld, last November 13, 2018 and can also be found at https://www.bworldonline.com/jollibee-nets-p2b-in-q3-amid-global-push/

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/

Jollibee announces Family Values Awards finalists

Filipino fast-food chain Jollibee has introduced a new batch of value-centered families vying for the Jollibee Family Values Awards.

Since its launch in 2011, the JFVA has recognized numerous Filipino families for their exemplary advocacies that improve the lives of people in their communities.  Out of hundreds of entries from the country and abroad, the finalists for the 8th year of the search include 11 families from Luzon, one family from Visayas, one from Mindanao, and two overseas Filipino worker families from Australia and the United States. Among the finalists are: Arquiza family (Camarines Norte), Bacudio family (Manila), Cua family (Manila), Delos Reyes family (Caloocan City), Homan family (Sorsogon), Idzenga family (Bacolod City), Manuncia family (Quezon City), Marcial family (Pasig City), Pedro family (Rizal), Rubico family (Laguna), Sibug family (North Cotabato), Vinuya family (Tarlac City), and Zulueta family (Makati City). The two nominated OFW families are Alegado family from the United States and Roa family from Australia. The finalists will vie for the six JFVA family awards and special citations at the “Gabi ng Parangal para sa Pamilyang Pilipino,” the search’s culminating event, on Sept. 26 at Blue Leaf Cosmopolitan. Parenting and relationship consultant and seasoned JFVA judge Maribel Dionisio chairs the panel of judges that chose the finalists “I’m taking it more seriously each year and so are the other judges. There’s even more vigor this year because we continue to see more amazing and selfless families with inspiring advocacies,” shared Dionisio.

Reprising their role as judges are TV host and news anchor Edric Mendoza, renowned writer and inspirational speaker Francis Kong, and lifestyle columnist and children’s advocate Audrey Tan-Zubiri. Other returning judges include actress Dimples Romana and TV host and news anchor Christine Jacob-Sandejas. Completing the panel of judges were Jollibee brand chief marketing officer and Jollibee Philippines marketing head Francis Flores and Jollibee Group Foundation executive director Gisela Tiongson. For Jollibee Philippines HR head Jazel Mendoza, a first-time judge, it was an enriching experience as she discovered the stories of the nominees.  “The diverse entries represented different sectors so it gave the judges a lot of opportunities to really see the different needs of the country and how people address those things,” said Mendoza. The 8th JFVA will honor each of the five exemplary families and one OFW family with P300,000 cash prize, Jollibee gift certificates, and a trophy designed by renowned sculptor Michael Cacnio.  Jollibee and its citation partners will also confer special awards to families supporting advocacies on education, children, minority groups, and PWDs. Family awardees will each receive P50,000 cash prize, Jollibee gift certificates, and a plaque.


*article was copied and originally published in Manila Standard on August 29,2018, and can also be found at http://manilastandard.net/lifestyle/home-living/274213/jollibee-announces-family-values-awards-finalists.html

McDo, Jollibee lead H1 2018 YouTube Ads Leaderboard

THE battle between two fast-food giants in the Philippines continued, as they dominated for the first time the YouTube Ads Leaderboard released last week by Google for the first half of 2018.

McDonald’s entry, titled “Kumusta Ka,” topped the list with the on-screen reunion of Sharon Cuneta and Gabby Concepcion after more than two decades.

Running almost one minute-and-a-half, the video shows the iconic love team of the 1980s catching up over a meal, stealing glances at each other, sharing smiles and enjoying the romance in the air.

“It’s always an honor for something like Youtube to appreciate the work that we do. But more than that, I guess for all those who followed this content, thank you very much. This couldn’t be possible without everyone’s help,” Golden Arches Development Corp. Marketing Manager Carlo Pocholo A. Perreras told the BusinessMirror in a sideline interview during the unveiling ceremony held at the Café Fiesta, Google Office in Bonifacio Global City, Taguig.

“#KwentongJollibee2018: Signs” came in second. With a theme about young love, this “feel-good” ad is one of the three-part series presented on Valentine’s Day by the Tony Tan Caktiong-led quick-service restaurant.

Both the archrivals took 6 of the 10 available slots with a selection of digital ads made for special occasions. Aside from claiming the No. 1 position, McDonald’s second entry “One Sweet Day” occupied the last spot. Jollibee’s “Status” and “Homecoming”bagged the fourth and fifth places. Meanwhile, “Alex Wassabi for Jolly Crispy Fries” was ranked sixth.

They also won the hearts of the media during the event. Kumusta Ka was feted with Kilig and Isa Pa Please awards, while Status received the Lola Basyang accolade.

“We’re very happy to be back in a big way. We’ve been blessed to be invited and to join the leaderboard. But this is the first time that the whole campaign for Kwentong Jollibee and Alex Wassabi that is product-based. And then, we got the special awards pa,” said Arline Adeva, AVP/head of public relations and Digital of Jollibee Foods Corp.

Akin to previous cycles, locally made ads sustained their popularity in the H1 2018 YouTube Ads Leaderboard.

While most of the videos were about romance, other selected digital ads also showcased diversity in their length and format.

“Cerelac Let’s Eat, Bulilit!” of Nestlé Philippines got the third spot; “Cutiespotting” of Unilever-Selecta Cornetto, seventh; “Si Vivoree, may bagging crush? Watch to know more!” of Smart-TNT, eighth; and “Heart to Heart with Kris: Entry #37 Stuck In Traffic with the Aquinos / Kris Aquino / The Aquinos” of P&G, ninth.

All the finalists also underscored how brands are maximizing YouTube to bring out their narratives and make these even more timely and relevant for local audiences.

“Ads are determined by an algorithm that factors in organic and paid views, watch time and audience retention,” explained Gabby Roxas, country marketing manager of Google Philippines.

“YouTube brings to the foreground the role and impact of brands in the lives of their audiences, and the YouTube Ads Leaderboard shows us the many ways this can be done. Great stories elicit that strong response from audiences, enough to make millions watch on and anticipate the next episodes brands have in store,” he added.

*This article was copied and published in BusinessMirror last Aug. 27, 2018, and is available online at https://businessmirror.com.ph/mcdo-jollibee-lead-h1-2018-youtube-ads-leaderboard/


Jollibee celebrates 25th listing anniversary

Jollibee Foods Corp. marked its 25th year as a listed company with a special bell ringing ceremony at the Philippine Stock Exchange on Wednesday. Shown in photo are (from left): PSE director Alejandro Yu; JFC independent director Monico Jacob; JFC director and former chief justice Artemio Panganiban; Tourism Secretary Bernadette Romulo-Puyat; JFC director Antonio Chua Poe Eng; Jollibee Group Foundation Inc. president Grace Tan Caktiong; JFC chairman Tony Tan Caktiong; PSE chairman Jose Pardo; DBP chairman and former senator Alberto Romulo; PSE COO Roel Refran; JFC director William Tan Untiong; JFC director Joseph Tanbuntiong and PSE director Emmanuel Bautista.

*This photo is published on The Philippine Star last July 20, 2018 and is available online at https://www.pressreader.com/philippines/the-philippine-star/20180720/282037622946185

Jollibee brings Vietnamese chain to Philippines

April 26, 2018 | 12:10 am

JOLLIBEE Foods Corp. (JFC) will be bringing is Vietnamese restaurant chain Pho 24 to the Philippines, the homegrown fastfood giant disclosed to the stock exchange on Wednesday.

The listed company said the expansion of the Vietnamese brand will be done through its wholly-owned unit, Fresh N’ Famous Foods, Inc. As the name suggests, Pho 24 serves Vietnamese noodle soup known as “pho,” as well as other traditional Vietnamese dishes.

Pho 24 forms part of the SuperFoods Group, JFC’s 60-40 joint venture with Viet Thai International Joint Stock Co. (VTI) through subsidiary, JSF Investments Pte. Ltd.

“(T)he SuperFoods Group aims to serve customers in Asia and key cities in the world with high quality and healthy Vietnamese food at affordable prices through the Pho 24 brands.

Aside from Pho 24, the SuperFoods Group also owns and operates the Highlands Coffee brand, as well as franchises Hard Rock Cafe in Vietnam, Macau, and Hong Kong.

JFC noted that it renovated all stores under the SuperFoods Group last year, as it shifted to a fast casual dining model instead of casual dining. The renovations allowed for faster ordering, product delivery, and cleaner store environments, according to the company.

At the end of 2017, the SuperFoods Group had a total of 281 stores under the Highlands Coffee, Pho 24, and other brands.

The move to expand the SuperFoods Group is in line with JFC’s commitment to take the company public in Vietnam by 2019.

JFC has also previously taken control of Denver-based burger chain Smashburger, which operates 352 stores in the United States, Costa Rica, Egypt, El Salvador, the United Kingdom, and Panama. This helped increase the company’s store network to over 4,000 worldwide.

In the Philippines, the company had a total of 2,895 as of the end of March under various brands such as Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King.

In addition, the company has 943 stores overseas, under different brands such as Yonghe King, Hong Zhuang Yuan, Dunkin’ Donuts, Jollibee, Highlands Coffee, Hard Rock Cafe, and Pho 24.

The push toward more stores overseas is seen to help achieve JFC’s goal of seeing equal revenue contributions from local and international businesses by 2022.

JFC saw its net income attributable to the parent grow by 15% in 2017 to P7.089 billion, supported by a 15.6% uptick in revenues to P131.57 billion for the period.

This year, the company continues its aggressive store expansion as it rolls out P12 billion in capital spending.

Shares in JFC dipped P3.40 or 1.19% to close at P281.60 each at the stock exchange on Wednesday. — Arra B. Francia

*This article was published in Business World on April 26, 2018, and can also be found online at: http://bworldonline.com/jollibee-brings-vietnamese-chain-to-philippines/

JFC completes deal to gain control of Smashburger

JOLLIBEE Foods Corp. (JFC) has completed its acquisition of an additional stake in American burger chain Smashburger, effectively expanding the homegrown fastfood giant’s global footprint.

In a disclosure to the stock exchange on Tuesday, the listed company said it has completed all closing conditions and regulatory approvals for the acquisition of an additional 45% stake in SJBF LLC, the parent firm of the entities related to the Smashburger business.

The transaction was made through a purchase agreement between JFC’s wholly owned unit, Bee Good! Inc. (BGI) and Smashburger Master LLC. This brings JFC’s total stake in Smashburger to 85%, as it has previously acquired a 40% share in the latter in 2015.

“With the completion of the acquisition, JFC shall include Smashburger in its financial consolidation starting April 17, 2018,” the company said.

The acquisition is valued at $100 million, to be paid in cash at the close of the deal.

The Denver-based burger chain currently operates through 365 restaurants worldwide, and is present in 39 states in the United States and in 10 foreign markets. This brings JFC’s global store network to 4,162, as well as expand its presence to 21 countries, adding Costa Rica, Egypt, El Salvador, the United Kingdom, and Panama.

With the acquisition, JFC said Smashburger will increase the sales contribution of the United States to worldwide systemwide sales to 15% from the present 5%. The acquired firm will also raise the contribution of foreign businesses to worldwide systemwide sales to 30% from 20% currently.

In the Philippines, JFC had a total of 2,884 outlets as of the end of February, maintaining its position as the largest food service network in the country. Of these stores, 1,071 carry the Jollibee brand; 529 are Chowking; 495 are Mang Inasal; 425 are Red Ribbon; 271 are Greenwich; and 93 are Burger King.

JFC has more brands operating in China, Hong Kong, Singapore, and the Middle East, among others.

The Tony Tan Caktiong-led firm booked a 15% growth in its net income attributable to the parent in 2017 to P7.089 billion. Revenues meanwhile also gained 15.6% to P131.57 billion, boosted by the double-digit increase in system wide retail sales for during the year.

JFC is accelerating its spending this year, allotting P12 billion for capital expenditures to fast track its global expansion. The company earlier said that it looks to see equal contribution from local and international sales by 2022.

Shares in JFC lost 1.03% or P3 to settle at P288.60 by closing bell at the Philippine Stock Exchange on Tuesday. — Arra B. Francia

*This article was copied from and was originally published by Business World in the newspaper on April 18, 2018. It is also available online at: http://bworldonline.com/jfc-completes-deal-to-gain-control-of-smashburger/