Jollibee plans to enter European market

ABS-CBN News

Posted at Jul 22 2013 03:10 PM | Updated as of Jul 23 2013 05:10 PM

MANILA, Philippines - Will Europeans soon enjoy Chicken Joy and Jolly Spaghetti? 

In a recent interview with BBC's Rico Hizon, Jollibee Foods Corp. chief operating officer Ernesto Tanmantiong said the fast food giant is planning to expand into the European market, but perhaps in the next few years. 

"We are looking at the European market. Maybe, 3 years from now because we still see a lot of opportunity growth in North America. Once we kind of saturate the North American market then we will enter Europe in the near future," he said. 

As of end-March, Jollibee had 783 Jollibee branches in the Philippines and 94 flagship branches overseas. There are 40 Jollibee branches in Vietnam, 26 in the United States, 13 in Brunei, 9 in Jeddah, 3 in Qatar and 1 in Hong Kong, Kuwait and Singapore. 

Tanmantiong is confident Jollibee will become a global brand that is capable of helping Pinoy food transcend borders. 

"We believe our 'Chicken Joy' is a superior product which is universally accepted by all races and from all parts of the world," he said. 

Jollibee has posted a net income of P894.7 million in the first quarter of 2013, a growth of 33% from the first quarter of last year. 

With business in China leading the growth, Tanmantiong is looking at the international market to comprise "50% of the entire JFC's revenue and profits" in the coming years. 

The Jollibee group operates a total of 2,654 stores worldwide, with its brands such as Jollibee, Red Ribbon, Chow King and Yonghe King. - by Vincent Paul A. Garcia, ABS-CBNnews.com