Jollibee Foods Corporation abbreviated as JFC (PSE: JFC) is a Filipino multinational chain of fast food restaurants headquartered in Pasig City, Philippines. It is the parent of Jollibee, the country's leading fast-food chain brand. Among its licensed brands are Chowking, Greenwich Pizza, Red Ribbon, Mang Inasal and Burger King Philippines. Since its inception, JFC expanded and to date, it has a total of 2,510 stores worldwide with a system wide retail sales totaling to 82.1 billion pesos for the fiscal year 2011.
In 1975 Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor in Cubao. 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 hotdogs, after his studies showed that a much larger market was waiting to be served. Lumba became Caktiong's last business and management mentor.
The Jollibee mascot was inspired by local and foreign children's books. Lumba 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-throughs. Not long after, Caktiong and Lumba went on an observation tour in the United States, attending food service and equipment conventions. Caktiong placed Lumba in charge of franchise development.
Princess L. Latina
Established in 1890, La Fabrica de Cerveza de San Miguel, Southeast Asia’s first brewery produced and bottled what would eventually become one of the bestselling beers in the region. Within the... [continues]
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