Jollibee

Infobox_Company
company_name = Jollibee Foods Corporation
company_
company_type = Public (Pse|JFC)
foundation = 1978 in Quezon City, Philippines
location = flagicon|PHL5th 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 = profit PhP 51.55 billion (2007)
net_income = profit PhP 2.363 billion (2007)
homepage = [http://www.jollibee.com.ph/ www.jollibee.com.ph]

Jollibee Foods Corporation (Pse|JFC) widely known as Jollibee is a fast-food restaurant chain based in the Philippines. It is an American-style fast-food restaurant with Filipino-influenced dishes specializing in burgers, spaghetti, chicken and some local Filipino dishes. Currently the biggest fast-food chain in the country, it also has locations in the United States, Saudi Arabia, Hong Kong, Vietnam, Indonesia, Dubai and Brunei. Jollibee is also the name of their mascot, a large bee in a blazer, shirt and chef's hat.

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 [ [http://www.jollibee.com.ph/index.php?/about_us/contents/1 jollibee.com.ph about us] ] , claims only 600) and total sales of more than US$1 billion. [http://www.gmanews.tv/story/80557/Jollibee-2007-profit-up-94-at-P236B GMANews.TV - Jollibee 2007 profit up 9.4% at P2.36B - Business - Official Website of GMA News and Public Affairs - Latest Philippine News - BETA ] ] 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 Mang Pepe (4). According to its own web site, it has 23 stores overseas. [ [http://www.jollibee.com.ph/index.php?/international jollibee.com.ph international page] ]

History

Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlorcite book |last=Go |first=Josiah |authorlink= |coauthors= |title=Fundamentals of Marketing: In The Philippine Setting |year=2001 |publisher=Design Plus |location=Quezon City, Philippines |isbn=971-91860-5-4 | pages =1-2 ] at Cubao in 1975 with Jolibee as the original name. Sometime in 1978, Caktiong 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 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, but changed the "y" to an "i". The Jollibee mascot was conceptualized by Lumba inspired by 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 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 thrus. 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. Fact|date=July 2007

Expansion and Acquisitions

The company acquired 80 percent 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. [cite news | last =Ordinario | first =Cai U. | title =Jollibee Foods buys out partner in Greenwich Pizza | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition | date =2006-01-18 | url =http://www.manilatimes.net/national/2006/jan/18/yehey/business/20060118bus8.html | accessdate = 2007-03-12] In 2000, the company acquired Chowking, allowing Jollibee to be part of the Oriental quick service restaurant segment. [cite news | title =Restaurant chain trains staff, bags corporate social responsibility award | work =Cebu | language =English | publisher =Sun.Star Publishing, Inc. |bee 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.] cite news | last =Arcibal | first =Cheryl M. | title =Jollibee group buys out partner in Delifrance | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition ss/20061111bus4.html | accessdate = 2007-03-12 ] And in 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan. [ [http://afp.google.com/article/ALeqM5ieuiE7xuM6kJ2jeN31JqkwQ57QvQ Philippine fast-food giant acquires China chain] ]

It was, however, only on August 26, 2008, that Jollibee formally signed the P 2.5 billion ($ 55.5 million) deal with Beijing-based Hong Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale, however, is subject to the October approval of China’s Ministry of Commerce. Aside from Hong Zhuang Yuan, 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 King for $ 22.5 million. Jollibee also entered into a joint- venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro on New Mexico, USA., in which Jollibee will have a 12% stake in the US-based Asian restaurant for $ 950,000. [ [http://www.gmanews.tv/story/116293/Jollibee-buys-Beijing-based-congee-chain gmanews.tv/story, Jollibee buys Beijing-based congee chain] ] [ [http://www.tradingmarkets.com/.site/news/Stock%20News/1846631/ tradingmarkets.com, Jollibee buys out Beijing resto chain] ] [ [http://www.allheadlinenews.com/articles/7012067520 allheadlinenews.com, Fast-Food Giant Jollibee Foods Acquires Chinese Congee Chain] ]

Jollitown TV Show

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. [ [http://www.manilastandardtoday.com/?page=goodLife3_april22_2008 manilastandardtoday.com, From mascots to TV stars] ]

Mascots

References

External links

* [http://www.jollibee.com.ph Jollibee Website]