Jollibee Strama

Topics: Philippines, Jollibee, Fast food Pages: 14 (4246 words) Published: February 1, 2013
History of Jollibee Foods Corporation
Jollibee is a phenomenal success story: when beganTony Tan Caktiong and his family opened a Magnolia Ice Cream parlor from Bankerohan, Davao City to Cubao in 1975 with Jolibee as the original name. Sometime in 1978, Caktiong and his brothers and sisters engaged the services of a management consultant, Manuel C. Lumba. 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, changing the "y" to an "i". They also offering hot meals and sandwiches became incorporated in 1978 with seven outlets to explore the possibilities of a hamburger concept. Thus was born the company that revolutionized fast food in the Philippines. The Jollibee mascot was inspired by local and foreign children's books. Lumba next created the product names "Yumburger" and "Chickenjoy". He had the company incorporated and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba 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-through. 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

In 1984, Jollibee hit the P500 million sales mark, landing in the Top 500 Philippine Corporations. In 1987, barely 10 years in the business, Jollibee landed into the country’s Top 100 Corporations. It became the first Philippine fast food chain to break the P1 billion sales mark in 1989. In 1993, Jollibee became the first food service company to be listed in the Philippine Stock Exchange; thus broadening its capitalization and laying the groundwork fo r sustained expansion locally and beyond the Philippines. As the country's leading fast food chain, Jollibee has grown exponentially on all aspects on operation. From a handful of stores 32 years ago, Jollibee now boasts of more than 600 stores and over 50 international stores. To achieve its long-term goal to be the country’s food service leader, Jollibee acquired Greenwich Pizza in 1994. A year later, the company obtained the franchise of Delifrance, an international food company. These moves expanded Jollibee’s penetration in the pizza-pasta and French café-bakery segments. In 2000, the strategic acquisition of Chowking solidified the company’s position as the dominant leader. The move gave it leadership in the Oriental quick-service restaurant segment. Jollibee’s rapid growth is due to its superior menu line-up, creative marketing programs, and efficient manufacturing and logistics facilities. It is made possible by well-trained teams that work in a culture of integrity and humility, fun and family-like. As a corporate citizen, Jollibee is also committed to give back to its host communities through meaningful and lasting socio-civic projects. Jollibee dedicated its continuous success to the Filipinos who have been there from the very start. Jollibee is so well-loved every time a new store opens, especially overseas, Filipinos always form long lines to the store. It is more than home for them. It is a stronghold of heritage and monument of Filipino victory. JOLLIBEE FOODS CORPORATION TIMELINE

* Mr. Tony Tan and his family opens a Magnolia Ice cream parlor at Cubao. This is later to become the 1st Jollibee Outlet. 1978
* Bakery is established in Cubao.
* Jollibee posts 1st year sales of P2 million
* Jollibee incorporates as a 100% Filipino-owned company, with seven Jollibee...
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