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Jollibee is a Filipino chain of fast food restaurants owned by Jollibee Foods Corporation (JFC) which serves as its flagship brand. Established in 1978 by Tony Tan Caktiong, it is the Philippines' top fast food restaurant [3] and is among the world's fastest growing restaurants, [4] expanding its international presence from 2014 to 2024 almost sixfold. [5]
This brought the company's total number of stores to 2,001 as of the end of December 2011. The same year, Jollibee closed Manong Pepe foodchain in favor of Mang Inasal, [18] and sold Délifrance to CaféFrance. [19] Overseas, Jollibee opened 93 stores, led by Yonghe King in China (70) and Jollibee Vietnam (11). [20]
In 2019, the Philippines' Jollibee Foods Corporation (JFC) acquired The Coffee Bean & Tea Leaf for $650 million, making Jollibee's biggest investment to date. [6] JFC bought it through Java Ventures LLC, a company from the US wholly owned subsidiary of Super Magnificent Coffee Company Pte. Ltd. in Singapore , a subsidiary of Jollibee Worldwide ...
He wanted to adopt the fast food format, providing an alternative to the leading Western-style fast food chains such as Jollibee and McDonald's. [5] Chowking Food Corporation was incorporated on February 19, 1985. The principal investors were Kuan, Jollibee founder Tony Tan Caktiong and Wilson Chu. After two years, Kuan and Caktiong bought Chu ...
Tan Caktiong was born on January 5, 1953 in the then-undivided province of Davao (in now Davao del Sur) to Chinese immigrant parents from Fujian. [6] His father worked in a restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his restaurant in Davao City. [7]
The restaurant started expanding in 1989 and became very successful, growing to half the size of market leader Jollibee. Kuan served as Chowking's president until 2000, when he sold his 50% equity stake to the Jollibee Foods Corporation; Jollibee creator Tony Tan Caktiong was a founding business partner. By then, Chowking had 155 locations.
The study found that after the law went into effect prices saw a one-time increase of 3.7%, or about 15 cents for a $4 item. The study said that consumers absorbed about 62% of the cost increases ...
Jollibee has 8 outlets in Metro Manila at the time of its incorporation. It credits the Cubao branch as its first outlet. The first ever Jollibee branch was in Cubao, Quezon City which opened in 1975 as a Magnolia Ice cream parlor. When Jollibee was incorporated in 1978, there were 7 branches in Metro Manila.