Jollibee to open Singapore branch on March 12

MANILA, Philippines – Homegrown food giant adds Singapore to its global footprint with the addition of its branch in Singapore.

On March 12, Jollibee will open a branch in Lucky Plaza, a favorite hangout place of Filipinos located at Orchard Road.

Jollibee has been posting countdowns to the D-Day on its social media accounts.

Jollibee initially announced its Singapore expansion last May 2012, when it disclosed to the stock exchange that its subsidiary, Golden Plate Pre. Ltd (GPPL), has entered into a 60-40 agreement with Singaporean firm Beeworks, Inc. 

Jollibee had said it will have control of the joint venture firm that received an initial $1 billion funding. 

The food giant has over 2,500 branches in 10 countries. 

Founder Tony Tan Caktiong and his wife started the business as an ice cream parlor in Cubao in 1975. When clients responded positively to their burger and sandwiches that were added to the menu, they shifted priorities and pursued global food quality and standards.

Jollibee’s steady growth has made the Philippines one of the markets where global giant McDonalds is not number one.

In 2012, Jollibee’s system-wide sales — a measure of sales of both company-owned and franchised stores — grew 12.3% to P92.27 billion. Its net income attributable to equity holders of the parent company reached P3.72 billion, a 15% increase. 

It is still pursuing expansion in markets where overseas Filipino communities thrive. – Rappler.com