By The Manila Times
Homegrown fast-food chain operator Jollibee Foods Corp. (JFC) is ramping up its domestic expansion with a target of opening more than 100 stores across the country this year.
Approximately 20 percent of the Jollibee Group’s planned store openings in 2024 will be in the Philippines, JFC Chief Finance Officer Richard Shin told reporters.
The Tan Caktiong-led company expects to launch 700 to 750 owned and franchised outlets, both local and international, to expand its store network by 7-8 percent before the year ends.
“Around the new stores, globally, I think it’s a similar split. We always think about 80 [percent] international and 20 percent in the Philippines. The 80-20 rule seems to work well for these 700 stores,” he noted.
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