Jollibee aims to sustain growth by opening 500 stores
To sustain its growth, Jollibee Foods Corporation (JFC), the largest Asian food service company, said it wants to open 500 new stores, while ramping up its expansion abroad.
To do this, JFC allocated a capital expenditure of P12 billion.
“We expect revenues and profit to continue to at least sustain historical growth rates in 2018 and in the years ahead,” said Jollibee President Ernesto Tanmantiong in a Manila Bulletin report.
“Jollibee is planning to open 500 new stores worldwide,” he added.
Of the stores to be opened, 250 to 300 are located in the Philippines, while the others will be scattered in different overseas locations, mostly in China and Vietnam.
“Vietnam is growing fast and it has a young population and both Jollibee Vietnam and Highlands Coffee are growing very well,” said Jollibee Chairman Tony Tancaktiong.