View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
November 25, 2021

Jollibee Foods plans to expand footprint in China

The chain plans to open 33 new restaurants under the Tim Ho Wan, Yonghe King and Hong Zhuang Yuan brands.

The Philippines-based fast-food restaurant company Jollibee Foods Corporation (JFC) is reportedly planning to expand its footprint in China with the opening of additional stores next month.

JFC plans to open new restaurants under its three major brands – Tim Ho Wan, Yonghe King and Hong Zhuang Yuan.

JFC president and CEO Ernesto Tanmantiong said: “The expansion efforts of these brands will play a huge and important role in generating revenue and strengthening the Jollibee Group’s growth, especially since China is one of the company’s four pillar markets.”

The restaurant company stated that after North America, China is its second-largest overseas market, where, so far, it has opened 80 stores this year.

It has scheduled 33 new stores that will open under the three major brands next month.

JFC has opened 62 Yonghe King restaurants this year and plans to open another 23 outlets by next month.

It has set a target to open 1,000 Yonghe King outlets across China over the next five years. Presently, there are 383 Yonghe King stores operating across the country.

The Hong Zhuang Yuan brand operates at 44 locations in Beijing. With plans to open another 16 stores by the end of this year, the brand would reach 60 stores in the country.

JFC also plans to have nearly 100 Tim Ho Wan restaurants across China within a time period of five years.

Currently, the Michelin-starred restaurant brand has six outlets in China.

In August, JFC was reportedly planning to acquire the remaining partners in Titan Dining, a fund that owns the Tim Ho Wan restaurant chain.

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU