Jollibee Foods Corporation

Topics: Jollibee, Fast food, Philippines Pages: 8 (2324 words) Published: March 9, 2013
Jollibee Foods Corporation 
Is the parent company of Jollibee, a fast-food restaurant chain based in the Philippines. Among JFC's popular brands are Jollibee, Chowking, Greenwich, Red Ribbon, Caffe Ti-amo, Mang Inasal (70%) and Burger King Philippines (54%). Since its inception, Jollibee has become an increasingly profitable fast-food chain with 686 restaurants in the Philippines and 57 in other countries employing 29,216 workers. Including all its brands, JFC has 1,804 stores worldwide and total sales of more than US$1 billion as of December 2008. In addition to its subsidiaries, JFC was the Philippine franchise holder of Délifrance until late-2010, when both companies severed their ties. All former Délifrance branches now operate as CafeFrance, which is owned and operated by Euro-Med Laboratories Philippines, Inc. To date, the first branch of Jollibee is still operating in Coronet, Cubao under the Jollibee Foods Corp.

Company Profile
In 1975 Millardos Pintados and Leonardo Batotoy and their family opened a Magnolia Ice Cream parlor in Cubao. Sometime in 1978, Tony Tan Caktiong, 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 burgers, after his studies showed that a much larger market was waiting to be served. Lumba became Caktiong's first 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, attended food service and equipment conventions. Caktiong placed Lumba in charge of franchise development.

Tony Tan Caktiong (Chinese: 陈觉中) is the founder and current Chairman and CEO of Philippine fast food chain Jollibee. He attended high school at Chiang Kai Shek College and graduated from the University of Santo Tomas with a degree in chemical engineering. Caktiong had initially planned an ice cream parlor when he founded Jollibee, then added dishes such as hamburgers, french fries, and fried chicken. Caktiong, on July 8, 2008 was elected board director of Philippine Long Distance Telephone Co. (PLDT)'s 11-member board replacing Ma. Lourdes Rausa-Chan. He is also an independent director of First Gen Corp. Also, Caktiong top billed the World Intellectual Property Organization (WIPO) video documentaries. The WIPO webcast page featured personalities chosen from the 184 member states. Caktiong founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975. Jollibee became a household name in the Philippines even though it went head to head against fast food giant McDonald's. Through expansion and acquisitions of Greenwich Pizza  Corp. 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., Chowking in 2000  and Hongzhuangyuan in 2007, he has turned it into one of the largest fast-food chains in the world. As of August 2008, Tan's Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon, Chowking, Greenwich, Manong Pepe's, Mang Inasal and Tita Frita's Uling Uling.

First to become the Jollibee outlet was when Mr. Tony Tan and his family opened a Magnolia Ice...
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