Philippines-based fastfood giant Jollibee Foods plans to increase its presence in the Philippines and overseas by opening 200 new stores in 2013.
Under this expansion plan, the company will open 100 new stores in the Philippines and the remaining in overseas. Majority of theoverseas outlets will be launched in mainland China.
This expansion program comes as part of a company's PHP5bn ($112m) capital investment program.
Jollibee Foods CFO Ysmael Baysa told INQUIRER.net that the company will increase its outlets by at least 10-15% in 2014, following the launch of 200 new outlets in the local and international market.
Increasing volatility in the present market has not impacted Jollibee Foods. "It's better to have the correction now when it's not yet catastrophic," Baysa added.
Jollibee Foods aims to hit 500 stores mark in mainland China by 2014, which will provide the company a break even in the country.
Under this expansion plan, the company will open 100 new stores in the Philippines and the remaining in overseas. Majority of theoverseas outlets will be launched in mainland China.
This expansion program comes as part of a company's PHP5bn ($112m) capital investment program.
Jollibee Foods CFO Ysmael Baysa told INQUIRER.net that the company will increase its outlets by at least 10-15% in 2014, following the launch of 200 new outlets in the local and international market.
Increasing volatility in the present market has not impacted Jollibee Foods. "It's better to have the correction now when it's not yet catastrophic," Baysa added.
Jollibee Foods aims to hit 500 stores mark in mainland China by 2014, which will provide the company a break even in the country.
