Local fast-food giant Jollibee Foods Corp. (JFC) said it has expanded its brands in mainland China, which will allow the company to boost its revenue.
This year alone, the company said its brands Tim Ho Wan, Yonghe King and Hong Zhuang Yuan have opened 80 stores around China, with 33 more stores set to open by December 2021.
“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,” Jollibee President and CEO Ernesto Tanmantiong said.
After its debut China in September last year, Tim Ho Wan now has a total of six stores across Shanghai. The restaurant, famous for its baked BBQ pork buns, rice rolls and pan-fried radish cakes, opened stores in MixC Shopping Mall in Minghang District, Sun Palace in Hongkou District and Cifi Tower in Putuo District, all popular commercial centers in Shanghai.
All restaurants continue to enjoy long queues and have been packed with customers even months after its opening day.
Jollibee said it will grow the Tim Ho Wan brand in China, targeting to have about 100 restaurant outlets within five years.
Yonghe King, famous for its freshly ground soy milk, minced pork rice and crispy tender chicken thigh, has opened 62 new stores this year. The Chinese fast-food restaurant currently has 383 stores across China and is targeting to reach 1,000 stores in five years.
Yonghe King recently entered the Shaanxi Province with two stores in Xi’an City and is set to open its first store in Hainan Province. Yonghe King is scheduled to open a total of 23 more stores by December.
Meanwhile, Hong Zhuang Yuan now has a total of 44 stores across the Chinese capital. The brand serves Beijing’s top-rated congee according to DianPing, China’s most popular restaurant-review app.
It has recently opened its first mall-based store in Xiyue Sky Street, a new landmark in Southwest Beijing. The new branch offers a new and exclusive menu, featuring dishes such as lucky fried chicken and Buddha Jumps Over the Wall, a seafood and poultry-based soup. These new menu items, as well as Hong Zhuang Yuan’s famous congee, has been drawing crowds for the new branch, with queuing lasting for more than an hour during weekends, the company said.
After previously focusing on opening stores in residential areas, Hong Zhuang Yuan is now planning to open stores in the top 10 shopping malls in Beijing and other shopping malls outside the city as it seeks to have 60 stores by the end of 2021.
A total of P12.2 billion was allotted for the Jollibee Group’s capital expenditures in 2021, the highest in the company’s history, with a focus on expansion in Asian countries such as China, the world’s second largest economy.