Jollibee
282745
224762627
2008-07-10T09:01:07Z
124.184.95.114
/* 30th Anniversary, "Jollitown" */
{{Infobox_Company |
company_name = Jollibee Foods Corporation|
company_logo = [[Image:Jollibeelogo.jpg|200px]] |
company_type = Public ({{Pse|JFC}})|
foundation = [[1978]] in [[Quezon City]], [[Philippines]]|
location = {{flagicon|PHL}}5th Floor, Jollibee Plaza, Emerald Ave. [[Ortigas Center]], [[Pasig City]], [[Metro Manila]], [[Philippines]] |
key_people = [[Tony Tan Caktiong]], Founder, President & CEO |
industry = [[Restaurants]] |
products = [[Fast food]] |
revenue = {{profit}} [[Philippine Peso|PhP]] 51.55 billion ([[2007]])|
<!-- operating_income = -->
net_income = {{profit}} [[Philippine Peso|PhP]] 2.363 billion ([[2007]])|
<!-- num_employees = | -->
<!-- parent = | -->
<!-- subsid = | -->
homepage = [http://www.jollibee.com.ph/ www.jollibee.com.ph]
}}
'''Jollibee Foods Corporation''' ({{Pse|JFC}}) widely known as '''Jollibee''' is a [[fast-food restaurant]] chain based in the [[Philippines]]. It is an American-style fast-food restaurant with Filipino-influenced dishes specializing in burgers, spaghetti, chicken and some local Filipino dishes. Currently the biggest fast-food chain in the country, it also has locations in the [[United States]], [[Saudi Arabia]], [[Hong Kong]], [[Vietnam]], [[Indonesia]], [[Dubai]] and [[Brunei]]. Jollibee is also the name of their [[mascot]], a large [[bee]] in a [[blazer]], [[shirt]] and chef's [[hat]].
As of December 2007, Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide and total sales of more than $1 billion. <ref name="mst">http://www.gmanews.tv/story/80557/Jollibee-2007-profit-up-94-at-P236B</ref> As of March, 2008, JFC has 1,464 stores in the Philippines namely, Jollibee (627), [[Chowking]] (377), [[Greenwich Pizza]] (236), [[Red Ribbon (Bakeshop)|Red Ribbon Bakeshop]] (194), [[Délifrance]] (28) and Tio Pepe (2). It had 191 stores overseas.<ref>[http://www.jollibee.com]</ref>
==History==
[[Image:Jollibee12.jpg|thumb|150px|left|Jollibee mascot]]
[[Tony Tan Caktiong]] and his family opened a Magnolia Ice Cream parlor<ref name=Marketing>{{cite book |last=Go |first=Josiah |authorlink= |coauthors= |title=Fundamentals of Marketing: In The Philippine Setting |year=2001 |publisher=Design Plus |location=[[Quezon City]], [[Philippines]] |isbn=971-91860-5-4 | pages =1-2 }}</ref> at [[Cubao]] in [[1975]] with Jolibe as the original name. Sometime in 1978, Tony Tan and his brothers and sisters, being partners, engaged the services of a management consultant in the person of Manuel C. Lumba. Consultant Lumba shifted the business focus from ice cream to hamburgers,<ref name=Marketing/> after his studies showed that a much larger market was waiting to be exploited. Lumba became Tony Tan's first business and management mentor. Lumba next re-formed the name Jolibe to Jolly Bee and made the two words form a single name Jollibee, but changed the "y" to an "i". The Jollibee mascot was conceptualized by Lumba inspired by local and foreign children's books. Lumba next created the product name "Yumburger" as well as the name "Chickenjoy". He had the company incorporated in order to benefit from incorporation and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba also formulated a long-term marketing strategy, listing up a number of consumer promotions and traffic building schemes. Tony Tan stressed that developing internal strengths was critical. The stores were re-designed, the service transformed into a full self-service, fast-food operation with drive thrus. Not long after, Tony Tan and Manny Lumba went on an observation tour in the United States, attended food service and equipment conventions. Tony Tan placed Manny Lumba in charge of franchise development. {{Fact|date=July 2007}}
===Expansion and Acquisitions===
[[Image:Jollibee.jpg|left|thumb|200px|A Jollibee restaurant in [[Dumaguete City]].]]
The company acquired 80 percent of [[Greenwich Pizza]]<ref name=Marketing> Corp. in [[1994]] enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, [[Greenwich Pizza|Greenwich]] has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash.<ref name="a20060118">{{cite news | last =Ordinario | first =Cai U. | title =Jollibee Foods buys out partner in Greenwich Pizza | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition | date =[[2006-01-18]] | url =http://www.manilatimes.net/national/2006/jan/18/yehey/business/20060118bus8.html | accessdate = 2007-03-12}}</ref>
In [[2000]], the company acquired [[Chowking]], allowing Jollibee to be part of the oriental quick service restaurant segment.<ref name="a20061104">{{cite news | title =Restaurant chain trains staff, bags corporate social responsibility award | work =Cebu | language =English | publisher =Sun.Star Publishing, Inc. | date =[[2006-11-04]] | url=http://www.sunstar.com.ph/static/ceb/2006/11/04/bus/restaurant.chain.trains.staff.bags.corporate.social.responsibility.award.html Sun.Star | accessdate = 2007-03-12 }}</ref> Similarly, Jollibee also acquired [[Red Ribbon (Bakeshop)|Red Ribbon Bakeshop]] on [[2005]], another popular fast-food restaurant in the Philippines.<ref name="a20050825">{{cite news | last =Austria | first =Jenniffer B. | title =Jollibee buys Red Ribbon | work = | language =English | publisher =Manila Standard Today | date =[[2005-08-25]] | url=http://www.manilastandardtoday.com/?page=business01_aug25_2005 | accessdate = 2007-03-12 }}</ref>
In [[2006]], the company acquired the franchise of [[Délifrance]]. This further expanded its penetration in the food service industry particularly in the [[Culture of France|French]] cafe-bakery, a growing segment of the Philippine food market. In September of 2006, the company acquired the remaining 50% stake of Delifrance Asia Ltd. in Baker Fresh Foods Phils., Inc. (BFFPI). This means BFFPI is now a wholly owned subsidiary of Jollibee and that the listed food giant has the exclusive rights to operate Delifrance outlets in the country. ''"The acquisition involved a restructuring of all advances by Jollibee and Delifrance Asia amounting to P130 million into equity,"'' a public statement said. Jollibee added that the strong sales posted by Delifrance encouraged it to buy out its partner.<ref name="deli">{{cite news | last =Arcibal | first =Cheryl M. | title =Jollibee group buys out partner in Delifrance | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition | date =[[2006-10-02]] | url=http://www.manilatimes.net/national/2006/oct/02/yehey/business/20061002bus4.html | accessdate = 2007-03-12 }}</ref>
The corporate actions in buying out the minority shareholders in Greenwich Pizza (20%) and Delifrance (50%) were the prelude to a plan to integrate Greenwich Pizza, Chowking and Delifrance brands under one corporate entity.<ref>[http://www.bworld.com.ph/Research/stockpicks.php?id=0095 BusinessWorld Research: Stock Picks — Jollibee Foods Corp. (JFC)]</ref> Under this plan, merging of the subsidiaries will be implemented by having Greenwich Pizza Corp. and BFFPI folded into Chowking Food Corp. The surviving entity will be renamed ''Fresh N' Famous Foods, Inc.'' No new shares will be issued as the assets of Greenwich and BFFPI will be injected into Fresh 'N Famous as additional paid-in capital.<ref name="MT20061111">
{{cite news | last =Arcibal | first =Cheryl M. | title =Jollibee spins off units to form separate company | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition | date =[[2006-11-11]] | url =http://www.manilatimes.net/national/2006/nov/11/yehey/business/20061111bus4.html | accessdate = 2007-03-12 }}</ref>
[[Image:Jollibee, Central, Hong Kong 1.jpg|right|thumb|200px|A Jollibee restaurant at [[World Wide Lane]] (next to [[World Wide House]]), [[Central, Hong Kong]]]]
Along with its Philippine brands, the company also runs a Chinese fast food chain, [[Yonghe King]], in mainland [[China]], and a popular [[teahouse]] chain from [[Taiwan]] called [[Chun Shui Tang]] (Spring Water Hall). Chun Shui Tang teahouse opened a branch on [[Shanghai]]'s [[Huaihai Road]] on June 30, [[2006]].<ref name="MT20060525">{{cite news | last =Arcibal | first =Cheryl M. | title =Jollibee opens teahouse in China | work =BUSINESS | language =English | publisher =The Manila Times Internet Edition | date =[[2006-05-25]] | url=http://www.manilatimes.net/national/2006/may/25/yehey/business/20060525bus11.html | accessdate = 2007-03-12 }}</ref>
On [[July 25]], [[2007]], Jollibee launched its pilot restaurant "Tio Pepe's Karinderia" in Edsa Central in Mandaluyong, to professionalize the Philippine carinderia business. "Tio Pepe's image is [[Bulacan|Bulakeño]]," said John Victor Tence, vice president for corporate and human resources at Jollibee.<ref name="ABS-CBN">{{cite news | title =Jollibee invades carinderia industry, launches Tio Pepe | work =BUSINESS | language =English | publisher =ABC-CBN Interactive | date =[[2006-05-25]] | url=http://www.abs-cbnnews.com/storypage.aspx?StoryId=85848 | accessdate = 2007-07-25 }}</ref>
On [[September 21]], [[2007]], Jollibee CEO [[Tony Tan Caktiong]] announced that it bought the [[Chinese restaurant]] [[chain]] Hongzhuangyuan (which has 33 branches in [[Beijing]]) for US $50.5 million. Jollibee has also acquired [[Shanghai]]-based Yonghe King chain on [[2004]] for $ 22.5 million and now operates 1,385 [[hamburger]], [[pizza]], [[baked goods]] and [[Chinese food]] [[restaurants]] in the Philippines with over 200 branches in other [[countries]].<ref>[http://afp.google.com/article/ALeqM5ieuiE7xuM6kJ2jeN31JqkwQ57QvQ Philippine fast-food giant acquires China chain]</ref> Meanwhile, the [[Philippine Stock Exchange]] stated that [[Trade|trading]] in Jollibee [[shares]] were suspended pending [[disclosure]] of the complete terms and conditions of the [[transaction]].<ref>[http://business.inquirer.net/money/topstories/view_article.php?article_id=89864 Inquirer.net, Jollibee to buy China food chain for $50.5M; trade halted]</ref>
On [[March 26]], [[2008]], Jollibee opened a new outlet in G-8, G-9 Jia Ning Na Mall, [[Shenzhen]] City, China, owned and operated by Kuai Le Feng, a wholly owned subsidiary of JFC. It earlier operated a franchised store in [[Xiamen]] from 1998 to 2002.<ref>[http://www.abs-cbnnews.com/storypage.aspx?StoryId=113133 Abs-Cbn Interactive, Jollibee opens new store in China]</ref> Jollibee has also acquired Taiwanese restaurant chain Lao Dong for 61.1 million pesos (1.37 million dollars).
=== BIR Closure of outlet ===
On [[December 4]], [[2007]], the Bureau of Internal Revenue on Tuesday announced that it padlocked an outlet (a franchise owned by Quest Food Corp.) of Jollibee Foods Corp. at Farmer’s Plaza, [[Cubao]], for paying incorrect taxes. BIR Deputy Commissioner Nelson Aspe said that "evaluation done on the fastfood chain outlet's cash register showed that the operator of the fastfood outlet was "culpable of underdeclaring the taxable sales for Calendar Year 2006 by as much as 51%." <ref>[http://www.gmanews.tv/story/71331/BIR-padlocks-Jollibee-outlet-for-tax-deficiencies GmaNews.tv, BIR padlocks Jollibee outlet for tax deficiencies]</ref>
===30th Anniversary, "Jollitown"===
[[Image:Jbmascot.jpg|thumb|150px|Jollibee mascot in one of the kiddie parties]]
On [[March 26]], [[2008]], the launch of "Jollitown" at [[Rockwell Tent]], [[Makati]] highlighted Jollibee’s 30th anniversary celebration. Jollibee and mascots or chums Yum, Hetty, Popo and Twirlie (mere party attractions and food chain icons), became television stars in children’s TV show, Jollitown, the first TV program by Jollibee, airing Sundays, 9:30 to 10 a.m., on [[GMA Network]]. <ref>[http://www.manilastandardtoday.com/?page=goodLife3_april22_2008 manilastandardtoday.com, From mascots to TV stars]</ref>
==Mascots==
{|class=wikitable
|-
!Name !! Year introduced !! Represents
|-
|Jollibee || 1980 || Main franchise mascot
|-
|Chickee || 1983, discontinued || Chickenjoy
|-
|Lady Moo || 1983, discontinued || Milkshakes
|-
|Mico || discontinued || Milkshakes
|-
|Champ || 1984, discontinued || Champ premium hamburger
|-
|Hetty || 1984 || Jolly Spaghetti
|-
|Twirlie || || Jolly Twirl
|-
|Popo || || Jolly Crispy Fries
|-
|Mr. Yum || || Yumburger
|}
==References==
{{reflist}}
==External links==
*[http://www.jollibee.com.ph Jollibee Website]
{{PSEi}}
[[Category:Companies listed on the Philippine Stock Exchange]]
[[Category:Companies of the Philippines]]
[[Category:Fast-food chains of the Philippines]]
[[Category:Fast-food hamburger restaurants]]
[[Category:Fast-food chains of the United States]]
[[Category:Fictional bees]]
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