Jollibee

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Jollibee Foods Corporation
Type Public (PSE: JFC)
Founded 1978 in Quezon City, Philippines
Headquarters Flag of the Philippines 5th Floor, Jollibee Plaza, Emerald Ave. Ortigas Center, Pasig City, Metro Manila, Philippines
Key people Tony Tan Caktiong, Founder, President & CEO
Industry Restaurants
Products Fast food
Revenue ▲ PhP 51.55 billion (2007)
Net income ▲ PhP 2.363 billion (2007)
Subsidiaries Greenwich Pizza
Chowking
Website www.jollibee.com.ph

Jollibee Foods Corporation (PSE: JFC) (widely known as Jollibee) is a fast-food restaurant chain based in the Philippines. As of December 2007, Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide (although its own web site [1], claims only 600) and total sales of more than US$1 billion. [2] As of March, 2008, JFC has 1,466 stores in the Philippines namely, Jollibee (627), Chowking (377), Greenwich Pizza (236), Red Ribbon Bakeshop (194), Délifrance (28) and Manong Pepe's (4). According to its own web site, it has 23 stores overseas. [3] As of end-September, 2008, JFC has 1,490 local and 228 foreign stores in its portfolio.[4]

Contents

[edit] History

Jollibee mascot

Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor from Bankerohan, Davao City[5] to Cubao in 1975 with Jolibee as the original name. 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 hamburgers,[5] after his studies showed that a much larger market was waiting to be exploited. Lumba became Caktiong'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, changing the "y" to an "i".

The Jollibee mascot was inspired by local and foreign children's books. Lumba next 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.[citation needed]

[edit] Expansion and acquisitions

Jollibee Santa Maria

The company acquired 80% of Greenwich Pizza 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.[6]

In 2000, the company acquired Chowking, allowing Jollibee to be part of the Asian quick service restaurant segment.[7][8] In 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan.[9]

Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe Dawang for $22.5 million. Jollibee entered into a joint-venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, in which Jollibee will have a 12% stake for $950,000.[10][11][12]

A Jollibee restaurant at Central, Hong Kong

On August 26, 2008, Jollibee formally signed a P2.5 billion ($55.5 million) deal with Beijing-based Hong Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale is subject to the approval of China's Ministry of Commerce.

[edit] Products and locations

The Amazing Aloha, a specially-made burger.

Jollibee is an American-style fast-food restaurant with Filipino-influenced dishes specializing in burgers, spaghetti, chicken and some local Filipino dishes. In the Philippines, Jollibee serves Coca-Cola products for its beverages; in overseas markets, the chain serves Pepsi products.

Currently the largest fast-food chain in the country, it also has locations in the United States, Saudi Arabia, Hong Kong, Vietnam, Malaysia, Indonesia, Dubai and Brunei. Jollibee is also the name of their mascot, a large bee in a blazer, shirt and chef's hat.


[edit] Jollitown TV Show

The Jollibee mascot at a kiddie party.

On March 26, 2008, a children's television program called "Jollitown" was launched by Jollibee. The timing was chosen to highlight Jollibee’s 30th anniversary. Jollibee's main mascot (also called Jollibee) and its backup mascots Yum, Hetty, Popo and Twirlie are the stars of the show, which airs Sundays, 9:30 to 10 a.m., on GMA Network.[13] A new Season premiere of Jollitown will be aired on April 19, 2009 telecast on GMA 7.

[edit] Mascot

Jollibee, the bee mascot introduced by the brand in 1980 is probably the most widely recognized character in the Philippines.[14]

Name Year introduced Represents
Jollibee 1980 Main franchise mascot
Chickee 1993, discontinued Chickenjoy
Lady Moo 1993, discontinued Milkshakes
Mico 1985, discontinued Milkshakes
Champ 1984, discontinued Champ premium hamburger
Hetty 1984 Jolly Spaghetti
Twirlie 1988 Jolly Twirl
Popo 1985 Jolly Crispy Fries
Mr. Yum 1985 Yumburger

[edit] Awards

Jollibee, on November 21, 2008, won in the Singapore, Asia-Pacific annual SCM Logistics Excellence Awards gala event, the "FMCG and F&B Supply Chain Excellence Award."[15]

[edit] References

  1. ^ jollibee.com.ph about us
  2. ^ GMANews.TV - Jollibee 2007 profit up 9.4% at P2.36B - Business - Official Website of GMA News and Public Affairs - Latest Philippine News - BETA
  3. ^ jollibee.com.ph international page
  4. ^ Jollibee bags supply chain award
  5. ^ a b Go, Josiah (2001). Fundamentals of Marketing: In The Philippine Setting. Quezon City, Philippines: Design Plus. pp. 1–2. ISBN 971-91860-5-4. 
  6. ^ Ordinario, Cai U. (2006-01-18). "Jollibee Foods buys out partner in Greenwich Pizza" (in English). BUSINESS (The Manila Times Internet Edition). http://www.manilatimes.net/national/2006/jan/18/yehey/business/20060118bus8.html. Retrieved on 2007-03-12. 
  7. ^ "Restaurant chain trains staff, bags corporate social responsibility award" (in English). Cebu (Sun.Star Publishing, Inc.). 
  8. ^ Arcibal, Cheryl M.. "Jollibee group buys out partner in Delifrance" (in English). BUSINESS (The Manila Times Internet Edition ss/20061111bus4.html). 
  9. ^ Philippine fast-food giant acquires China chain
  10. ^ gmanews.tv/story, Jollibee buys Beijing-based congee chain
  11. ^ tradingmarkets.com, Jollibee buys out Beijing resto chain
  12. ^ allheadlinenews.com, Fast-Food Giant Jollibee Foods Acquires Chinese Congee Chain
  13. ^ manilastandardtoday.com, From mascots to TV stars
  14. ^ Battling against a brand
  15. ^ Jollibee bags supply chain award

[edit] External links

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