Jollibee
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| Jollibee Foods Corporation | |
 |
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| Type | Public (PSE: JFC) |
|---|---|
| Founded | 1975 in Quezon City, Philippines |
| Headquarters | Emerald Ave. Ortigas Center, Pasig City, Metro Manila, Philippines |
| Key people | Tony Tan Caktiong, Founder, President & CEO |
| Industry | Restaurants |
| Products | Fast food |
| Revenue |  PhP 15 billion (2005) |
| Net income | PhP 1.43 billion (2005) |
| Website | www.jollibee.com.ph |
Jollibee (PSE: JFC) is a fast-food restaurant chain based in the Philippines and also has locations in the United States, Hong Kong, Vietnam, Indonesia, Dubai and Brunei. Jollibee is also the name of Jollibee's mascot, a large bee in a blazer, shirt and chef's hat. It is an American style fast-food restaurant with Filipino-influenced dishes. It specializes in chicken, burgers, and spaghetti.
As of March 2006, it has 1287 stores in the Philippines and 161 in other countries.[1]
Contents |
[edit] Corporate overview
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This section is a stub. You can help by expanding it. |
[edit] History
Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor at Cubao in 1975. The original name was Jolibe. Sometime in 1978, Tony Tan and his brothers and sisters, being partners, engaged the services of a management consultant in the person of Manuel C. Lumba. Consultant Lumba shifted the business focus from ice cream to hamburgers, after his studies showed that a much larger market was waiting to get tapped. Lumba became Tony Tan'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, but changed the "y" to an "i". Next, Lumba conceptualized the Jollibee mascot, insprired local and foreign children's books. Lumba next created the product name "Yumburger" as well as the name "Chickenjoy". He had the company incorporated in order to benefit from incorporation and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba also made the long-term marketing strategy, listing up a number of consumer promotions and traffic building schemes. Tony Tan stressed that developing internal strengths was primordial. The stores were re-designed, the service transformed into a full self-service, fast food operation with drive thrus. Not long after, Tony Tan and Manny Lumba went on observation tour in the United States, attended food service and equipment conventions. Tony Tan put Manny Lumba on center stage by putting him in charge of franchise development.
The company acquired 80 percent 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 2006, Jollibee owns 100 percent of the Greenwich Pizza Corp.[2]
A year later the company acquired the franchise of Délifrance. This further expanded its penetration in the food service industry particularly in the French cafe-bakery, a growing segment of the Philippine food market.[3]
In 2000, the company acquired Chowking. allowing Jollibee to be part of the Oriental quick service restaurant segment.[4]
In 2005, Jollibee acquired Red Ribbon Bakeshop, another popular fast-food restaurant in the Philippines.[5]
Along with its Philippine brands, the company also runs a Chinese fast food chain, Yonghe King, in mainland China, and a popular teahouse chain from Taiwan called Chun Shui Tang (Spring Water Hall). Chun Shui Tang teahouse opened a branch on Shanghai's Huaihai Road on June 30, 2006.[6]
[edit] Fresh 'N Famous Foods
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.
On September 2006, the company acquired the remaining 50% stake of Delifrance Asia Ltd. in Baker Fresh Foods Phils., Inc. (BFFPI). This means BFFPI is now a wholly owned subsidiary of Jollibee and that the listed food giant has the exclusive rights to operate Delifrance outlets in the country. "The acquisition involved a restructuring of all advances by Jollibee and Delifrance Asia amounting to P130 million into equity," a public statement said. Jollibee added that the strong sales posted by Delifrance encouraged it to buy out its partner.[3]
The corporate actions in buying out the minority shareholders in Greenwich Pizza (20%) and Delifrance (50%) were the prelude to a plan to integrate Greenwich Pizza, Chowking and Delifrance brands under one corporate entity.[7] Under this plan, merging of the subsidiaries will be implemented by having Greenwich Pizza Corp. and BFFPI folded into Chowking Food Corp. The surviving entity will be renamed Fresh 'N Famous Foods, Inc. No new shares will be issued as the assets of Greenwich and BFFPI will be injected into Fresh 'N Famous as additional paid-in capital.[8]
[edit] Menu
[edit] Regular offerings
Jollibee has a varied menu. Some of its menu items are as follows:
- Chickenjoy - Fried Chicken
- Champ - Likeness of a Big Mac
- Spaghetti
- French Fries
- Various Sandwiches
- Burger Steak (w/ mushroom sauce)
- Shanghai Rolls
- Various Desserts including Mango Caramel Sundaes
[edit] Limited offerings
- Honey beef rice
[edit] Cultural impact
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This section is a stub. You can help by expanding it. |
[edit] References
- ^ de la Cruz, Erik. "Jollibee to open 120 new stores this year, plans India", INQ7 Business: Money/Breaking News, Inquirer.net, 2006-07-25. Retrieved on 2007-03-12. (in english)
- ^ Ordinario, Cai U.. "Jollibee Foods buys out partner in Greenwich Pizza", BUSINESS, The Manila Times Internet Edition, 2006-01-18. Retrieved on 2007-03-12. (in english)
- ^ a b Arcibal, Cheryl M.. "Jollibee group buys out partner in Delifrance", BUSINESS, The Manila Times Internet Edition, 2006-10-02. Retrieved on 2007-03-12. (in english)
- ^ "Sun.Star Restaurant chain trains staff, bags corporate social responsibility award", Cebu, Sun.Star Publishing, Inc., 2006-11-04. Retrieved on 2007-03-12. (in english)
- ^ Austria, Jenniffer B.. "Jollibee buys Red Ribbon", Manila Standard Today, 2005-08-25. Retrieved on 2007-03-12. (in english)
- ^ Arcibal, Cheryl M.. "Jollibee opens teahouse in China", BUSINESS, The Manila Times Internet Edition, 2006-05-25. Retrieved on 2007-03-12. (in english)
- ^ BusinessWorld Research: Stock Picks — Jollibee Foods Corp. (JFC)
- ^ Arcibal, Cheryl M.. "Jollibee spins off units to form separate company", BUSINESS, The Manila Times Internet Edition, 2006-11-11. Retrieved on 2007-03-12. (in english)
