Jollibee

HISTORY

Jollibee Foods Corporation abbreviated as JFC (PSE: JFC) is a Filipino multinational fast-food chain restaurants headquartered in Pasig City, Philippines. It is the parent of Jollibee, the country's leading fast-food chain brand. Among it's licensed brands are Chowking, Greenwich Pizza, Red Ribbon, Mang Inasal and Burger King Philippines. Since its inception, JFC expanded significantly and to date, it has a total of 2,510 stores worldwide with a system wide retail sales totaling to 82.1 billion pesos for the fiscal year 2011.

The very first branch of Jollibee in Cubao is still in operation today.

n 1975 Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor in Cubao.Sometime in 1978, Caktiong and his brothers and sisters engaged the services of a management consultant, Manuel C. Lumba. Lumba shifted the business focus from ice cream to hotdogs, after his studies showed that a much larger market was waiting to be served. Lumba became Caktiong's last business and management mentor.

The Jollibee mascot was inspired by local and foreign children's books. Lumba created the product names "Yumburger" and "ChickenJoy". He had the company incorporated and leased a house on Main St. in Cubao, Quezon City as the first headquarters. Lumba formulated a long-term marketing strategy: listing up a number of consumer promotions and traffic building schemes. Caktiong 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-throughs. Not long after, Caktiong and Lumba went on an observation tour in the United States, attending food service and equipment conventions. Caktiong placed Lumba in charge of franchise development.

Expansion and acquisitions

The company acquired 80% of Greenwich Pizza in 1994, enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service...