Although many of its eateries had closed during the pandemic, Jollibee Foods Corp. (JFC) seeks to rebuild its profit sources, this time outside the Philippines. The company, considered to be an Asian version of the Western fried chicken chain KFC, is opening stores in North America, Southeast Asia and China, while expanding its influence in the United Kingdom.
JFC has faced some difficulties during the COVID-19 pandemic, with a net loss of 11.5 billion pesos in 2020, which is equal to 240 million dollars. Even with that fact, it seems they are ready to get back on track, envisioning a positive net profit for the following years. “Despite the COVID-19 challenges, our vision has not changed” said the company’s CEO Ernesto Tanmantiong. According to him, JFC seeks to “become among the top 5 restaurant companies in the world.”
While they are famous for their signature meals – the breaded crispy marinated “Chickenjoy” and the “Yumburger” -, JFC might customize their menus to better suit local markets’ tastes, as has been already done in the UK and in Singapore, for example.