More Langhap Sarap, coming to your town soon
Rejoice, Jolli-kids! Jollibee is expanding, and will be opening more branches nationwide.
Local fast-food giant Jollibee Foods Corp. has allocated P10.4 billion for capital outlay this 2016, as target for its further expansion plans and network development. This amount is more than double its level compared to last year, Inquirer reported.
Jollibee, which now gets 22% of its business from its international market, is tagged as the ninth most valuable among fast-food restaurant chains across the globe. JFC’s goal is to be one of the top five fast-food chains in terms of market capitalization in the world, for the next 5-7 years, Inquirer said.
In a stockholder’s presentation on Friday, Jollibee CEO Ernesto Tanmantiong said the notable increase in JFC’s CaPex this year would be used to the open about 200 more domestic stores, where 70% of which will be situated in Visayas and Mindanao.