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He is the founder and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties. Forbes listed him as the fifth richest person in the Philippines in 2023, with an estimated net worth of US$3.2 billion. [5]
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]
Jollibee Foods Corporation (abbreviated as JFC and Jollibee Group; [5] also known as Jollibee after its primary fast food brand) is a Philippine multinational company headquartered in Pasig, Metro Manila, Philippines. JFC is the owner of the fast food brand Jollibee.
A month after leaving Ling Nam, Kuan and Jollibee founder Tony Tan Caktiong, [7] who was a friend of his, agreed to be business partners for Kuan's new restaurant. [4] Kuan hired an interior designer for the "modern" Chinese restaurant. To separate it from Ling Nam, he tasked an advertising agency to come up with a unique name.
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 ...
The Jollibee-owned brand currently includes some 235 company-owned and franchise locations across 34 U.S. states and seven countries. RELATED: 11 Restaurant Chains That Are Struggling in 2024. 14 ...
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 ...
Jollibee launched its first mainland China branch in Xiamen in 1998 but later closed in 2001. [97] Jollibee focused on acquiring already popular restaurant chains in China. [98] However, in their drive to expand the company's foreign presence faster, they are now considering returning to the mainland Chinese market. [99] Northern Mariana Islands