Jollibee Group Just Opened Its 500th Restaurant in Mainland China
From a homegrown restaurant to an international conglomerate, Jollibee is on track to its mission of world domination. Jollibee Group just announced that the business has opened its 500th restaurant in Mainland China, one of the pillar markets for the international company.
Its 500th Chinese store, a Yonghe King branch, is located in Shanghai’s Putuo Rong Chuang Xiang Yi luxury estate area, bringing its total network in Mainland China to 424 Yonghe King, 58 Hong Zhuang Yuan, and 18 Tim Ho Wan stores. This is JFC’s 103rd store in Shanghai, a global financial hub.
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Jollibee Food Corporation (JFC) currently operates in 34 countries with over 6,300 stores globally, with a large chunk now dedicated to Mainland China where Jollibee operates three brands: Michelin-starred Tim Ho Wan; Yonghe King, known for its meal sets and soya milk; and Hong Zhuang Yuan, known for its congee meals.
“This year, we will continue to open more stores in China as we see potential for more growth. All three of our brands in the region will be debuting in new provinces and cities this year, in line with our vision of becoming one of the top 5 restaurant companies in the world,” said Ernesto Tanmantiong, Jollibee Group President & CEO.
Since it doubled down on international expansion, Jollibee has made its intentions clear: It aims to be one of the top 5 restaurant companies in the world, which would be a first for a Philippine or even Southeast Asian company.
At the moment, Jollibee is the 14th biggest restaurant company in the world based on market cap, ranking higher than American brands Papa John’s Pizza, Shake Shack, and Jack in the Box. Wendy’s and Wingstop rank just a little higher, while the top 5 bracket is occupied by McDonald, Chipotle, Yum! Brands (KFC, Taco Bell, Pizza Hut), Restaurant Brands International (Burger King, Tim Hortons, Popeyes), and Yum China.
JFC completely owns eight brands: Jollibee, Chowking, Greenwich, Red Ribbon, Man Nasal, Yonghe King, Hong Zhuang Yuan, and Smashburger. Meanwhile, its franchised brands include Burger King, Panda Express, PHO24, and Yoshinoya in the Philippines.
Abroad, it owns the franchise of Tim Ho Wan in select territories in China. JFC also owns 80 percent of The Coffee Bean and Tea Leaf, 60 percent of the SuperFoods Group that owns Highlands Coffee and PHO24, and 51 percent of Milshka.
