Jollibee Foods Corporation widely known as Jollibee is a fast-food restaurant chain based in the Philippines. It is an American-style fast-food restaurant with Filipino-influenced dishes specializing in burgers, spaghetti, chicken and some local Filipino dishes. Currently the biggest fast-food chain in the country, it also has locations in the United States, Saudi Arabia, Hong Kong, Vietnam, Indonesia, Dubai and Brunei. Jollibee is also the name of their mascot, a large bee in a blazer, shirt and chef's hat.
As of December 2007, Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide (although its own web site , claims only 600) and total sales of more than US$1 billion. As of March, 2008, JFC has 1,466 stores in the Philippines namely, Jollibee (627), Chowking (377), Greenwich Pizza (236), Red Ribbon Bakeshop (194), Délifrance (28) and Mang Pepe (4). According to its own web site, it has 23 stores overseas.
Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor at Cubao in 1975 with Jolibee as the original name. Sometime in 1978, Caktiong and his brothers and sisters, being partners, engaged the services of a management consultant in the person of Manuel C. Lumba. Consultant Lumba shifted the business focus from ice cream to hamburgers, after his studies showed that a much larger market was waiting to be exploited. Lumba became Caktiong's first business and management mentor. Lumba next re-formed the name Jolibe to Jolly Bee and made the two words form a single name Jollibee, but changed the "y" to an "i". The Jollibee mascot was conceptualized by Lumba inspired by local and foreign children's books. Lumba next created the product name "Yumburger" as well as the name "Chickenjoy". He had the company incorporated in order to benefit from incorporation and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba also formulated a long-term marketing strategy, listing up a number of consumer promotions and traffic building schemes. Caktiong stressed that developing internal strengths was critical. The stores were re-designed, the service transformed into a full self-service, fast-food operation with drive thrus. Not long after, Caktiong and Lumba went on an observation tour in the United States, attended food service and equipment conventions. Caktiong placed Lumba in charge of franchise development.
The company acquired 80 percent of Greenwich Pizza in 1994, enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash. In 2000, the company acquired Chowking, allowing Jollibee to be part of the Oriental quick service restaurant segment. And in 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan.
It was, however, only on August 26, 2008, that Jollibee formally signed the P 2.5 billion ($ 55.5 million) deal with Beijing-based Hong Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale, however, is subject to the October approval of China’s Ministry of Commerce. Aside from Hong Zhuang Yuan, Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe King for $ 22.5 million. Jollibee also entered into a joint- venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro on New Mexico, USA., in which Jollibee will have a 12% stake in the US-based Asian restaurant for $ 950,000.
On March 26, 2008, a children's television program called "Jollitown" was launched by Jollibee. The timing was chosen to highlight Jollibee’s 30th anniversary. Jollibee's main mascot (also called Jollibee) and its backup mascots Yum, Hetty, Popo and Twirlie are the stars of the show, which airs Sundays, 9:30 to 10 a.m., on GMA Network.
|Jollibee||1980||Main franchise mascot|
|Lady Moo||1983, discontinued||Milkshakes|
|Champ||1984, discontinued||Champ premium hamburger|
|Popo||1985||Jolly Crispy Fries|
Speaking of awards, the Indian publication Business Standard reports that Filipino businessman Tony Tan Caktiong, head of Jollibee Foods Corporation, was named Ernst & Young's 2004 World Entrepreneur of the Year (WEOY) at an award ceremony in Monte Carlo, Monaco.(Last Licks)
Jun 20, 2004; Speaking of awards, the Indian publication Business Standard reports that Filipino businessman Tony Tan Caktiong, head of...