steveluv Twincharged September 28, 2021 Share September 28, 2021 Strangely I personally find their hamburgers pretty good I had when I visited the Philippines. https://asia.nikkei.com/Business/Food-Beverage/Jollibee-aggressively-expands-globally-and-beyond-fast-food?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20210927190000&seq_num=8&si=44594 Jollibee aggressively expands globally and beyond fast foodFilipino empire takes full control of Tim Ho Wan as it spreads across 33 regions Filipinos working abroad have helped the Jollibee chain spread globally, especially in the U.S. and Middle East. © AFP/Jiji YUICHI SHIGA, Nikkei staff writerSeptember 27, 2021 16:22 JST MANILA -- Filipino restaurant giant Jollibee Foods is attempting to set itself up for rapid growth once the pandemic winds down with an aggressive global brand acquisition strategy that is moving the group further away from its fast-food roots. In August, the company said it would acquire the remaining 15% stake in Tim Ho Wan from its partner Titan Dining for 71.56 million Singapore dollars ($52.8 million). Jollibee initially bought a 45% interest in Tim Ho Wan for SG$45 million in May 2018, then gradually increased the stake up to 85% as of October 2020. Tim Ho Wan is a popular Hong Kong-based, Michelin-starred restaurant chain known for inexpensive but high-quality dim sum dishes. When Jollibee bought its first stake in the chain, Titan had the right to operate the Asia-Pacific outlets. But Titan later acquired both Tim Ho Wan's brand and trademark. Tim Ho Wan operates over 50 mostly franchised stores across Asia, primarily in Singapore, Taiwan, the Philippines and Hong Kong. Since Jollibee began purchasing its stake, the chain has expanded its presence in mainland China as well. A joint venture between Jollibee and Titan opened a Tim Ho Wan restaurant in Shanghai, the chain's first outlet in China, last September. The group has since grown its presence in the huge market and plans to increase the number of its restaurants in China to 100 in the next four years. Hong Kong-based Tim Ho Wan is Michelin-starred restaurant chain known for inexpensive but high-quality dim sum dishes. © Getty Images The Jollibee group was operating 5,816 outlets around the world, including around 3,200 in the Philippines, as of June 30, serving their signature fried ChickenJoy, burgers and other dishes. Jollibee is the largest fast-food chain in its home country, operating more restaurants than McDonald's there. But Jollibee brand restaurants account for only 26% of the group's outlets around the world. The company's acquisition spree so far has resulted in a takeout empire that includes a variety of quick-service brands. With 17 brands in 33 countries already, Jollibee CEO Ernesto Tanmantiong has said overseas operations will drive the conglomerate's revenue growth this year and beyond. In September 2019, the group announced it had acquired U.S.-based The Coffee Bean & Tea Leaf for $350 million. Before the acquisition, Jollibee was operating some 4,600 locations, a figure that has grown by 25% in the past two years. The group has never been gun-shy about investing in businesses. In 2018, it bought out Denver, Colorado-based Smashburger. In 2012, it purchased a 50% stake in SuperFoods Group, a Vietnamese restaurant group that operates coffee shop chain Highlands Coffee and Vietnamese noodle house chain Pho 24. The Jollibee fast-food chain itself has also been expanding its international footprint, though with outlets that mainly cater to Filipinos working abroad. The Philippines' large English-speaking population is a major source of immigrant workers. Some 10 million Filipinos, 10% of the population, work outside the Southeast Asian country, according to estimates. The U.S. and the Middle East attract many of these workers. The acquisitions of Tim Ho Wan and The Coffee Bean & Tea Leaf will help Jollibee's expansions in the Chinese and U.S. markets as a diversified player. Jollibee has announced its intention to enhance its Chinese food offerings through Tim Ho Wan and other operations. The group racked up 71.3 billion pesos ($1.4 billion) in sales in the first six months of 2021, up 13.7% from a year earlier. It earned 1.1 billion pesos in net profit in the first half, a drastic turnaround from an 11.9 billion peso loss one year earlier. Overseas markets contribute around 40% of the company's overall revenue, and its overseas businesses hold strong growth potential. The group now plans to rev up its global expansion strategy as it eyes rapid growth once the pandemic winds down. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
kobayashiGT Internal Moderator September 28, 2021 Share September 28, 2021 Are they a listed company? 😄 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 Philippines most well known brand other than del monte😂 1 Link to post Share on other sites More sharing options...
Ingenius Turbocharged September 28, 2021 Share September 28, 2021 (edited) Recently I dined in Tim Ho Wan and the food was really lousy. Edited September 28, 2021 by Ingenius 6 Link to post Share on other sites More sharing options...
Hamburger Hypersonic September 28, 2021 Share September 28, 2021 Jolly chicken like many others are like eating batter. Not my kind of fried chicken. 3 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 55 minutes ago, Ingenius said: Recently I dined in Tim Ho Wan and the food was really lousy. Which branch? I had it last mont still good Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 53 minutes ago, Hamburger said: Jolly chicken like many others are like eating batter. Not my kind of fried chicken. Their chicken has no taste texas and kfc best for chicken 1 Link to post Share on other sites More sharing options...
Rayleigh 6th Gear September 28, 2021 Share September 28, 2021 2 minutes ago, Thaiyotakamli said: Their chicken has no taste texas and kfc best for chicken Today KFC day. 6 pieces for $9. Damn worth it. 4 Link to post Share on other sites More sharing options...
Ingenius Turbocharged September 28, 2021 Share September 28, 2021 10 minutes ago, Thaiyotakamli said: Which branch? I had it last mont still good The Suntec branch. My standard for food is not high, but the food was bad. Will not go into detail , but my whole family agreed. Link to post Share on other sites More sharing options...
t0y0ta Supercharged September 28, 2021 Share September 28, 2021 1 hour ago, Ingenius said: Recently I dined in Tim Ho Wan and the food was really lousy. Outside HK, the THW in SG seems quite lousy generally. Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 16 minutes ago, Ingenius said: The Suntec branch. My standard for food is not high, but the food was bad. Will not go into detail , but my whole family agreed. Oh nvr tried there but the plaza sin and westgate is good but pricey Link to post Share on other sites More sharing options...
Beregond Supersonic September 28, 2021 Share September 28, 2021 26 minutes ago, Thaiyotakamli said: Their chicken has no taste texas and kfc best for chicken Their standard different for every outlet i think. Like kfc. Mostly very good . But once in a while i kenna cold n hard pcs 😒 1 Link to post Share on other sites More sharing options...
Arogab Turbocharged September 28, 2021 Share September 28, 2021 Chicken is good Link to post Share on other sites More sharing options...
Ingenius Turbocharged September 28, 2021 Share September 28, 2021 (edited) 7 minutes ago, Thaiyotakamli said: Oh nvr tried there but the plaza sin and westgate is good but pricey Agree different branches may have different quality due to different cook. Btw, I recommend you try Tsui Wah Hong Kong cafe at Clark Quay, is good. Edited September 28, 2021 by Ingenius Link to post Share on other sites More sharing options...
Stratovarius Turbocharged September 28, 2021 Share September 28, 2021 1 hour ago, Ingenius said: Recently I dined in Tim Ho Wan and the food was really lousy. I've tried THW in SG once and never again. A few of my fave is not in our SG menu and the food is just not as nice as in TW. Go TW i sure visit their THW but now..😞 25 minutes ago, Beregond said: Their standard different for every outlet i think. Like kfc. Mostly very good . But once in a while i kenna cold n hard pcs 😒 I've tried once. not too bad but i still prefer the KFC spices. Close 2nd will be popeyes. 3rd will be tenderfresh from those KPT. 😂 Jolliebee is over rate. Also, they sound like the beancurd shop. lol. 2 Link to post Share on other sites More sharing options...
Adrianli Hypersonic September 28, 2021 Share September 28, 2021 Jollibee not bad leh. 1 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 29 minutes ago, Ingenius said: Agree different branches may have different quality due to different cook. Btw, I recommend you try Tsui Wah Hong Kong cafe at Clark Quay, is good. I see the one in westgate pricey want dim sum should just go paradise group 40% off during afternoon time 2 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 28, 2021 Share September 28, 2021 My favourite tim ho wan branch at here😆😂 https://www.lottehotel.com/hanoi-hotel/en/dining/restaurant-tim-ho-wan.html ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
❤️What did WE makan today! BabyBlade is back!❤️
❤️What did WE makan today! BabyBlade is back!❤️
Food delivery firms take up third-party liability insurance
Food delivery firms take up third-party liability insurance
Makan in Thailand
Makan in Thailand
Road to red restaurants/hawkers list, Singapore version?
Road to red restaurants/hawkers list, Singapore version?
free healthy food for the people
free healthy food for the people
cheap cafe/restaurants during Covid
cheap cafe/restaurants during Covid
20 Cafes To Visit In Singapore
20 Cafes To Visit In Singapore
Halal food to recommend for muslim friends
Halal food to recommend for muslim friends