Jollibee Foods Corp., the largest and fastest growing Asian restaurant company in the world, will set foot in Guam on April 6.
Jollibee said in a statement over the weekend the opening of Jollibee store in Guam, located near Micronesia Mall in Dededo, was part of the company’s plan to accelerate expansion around the globe.
The Guam store is on top of the 37 Jollibee outlets currently in the US in states such as New York, Florida, Texas, California and Hawaii.
“This is a special moment in Jollibee’s history. We’ve long dreamed of the day we could serve the beautiful island of Guam, with its unique blend of Pacific, Asian, and American cultures and cuisine,” said Dennis Flores, president and head of Jolibbee’s international business.
“We believe that our best-selling Chickenjoy and other favorites will appeal to the diverse people of Guam,” Flores added.
Aside from targeting Filipinos overseas as customers, Jollibee is known to cater to each country’s local market.
Jollibee last year opened stores in four new markets, namely Italy, Macau, United Kingdom and Malaysia. It has 232 Jollibee stores overseas located across Vietnam, Hong Kong, China, Singapore, Canada, Brunei, Saudi Arabia, United Arab Emirates, Qatar, Kuwait Bahrain and Oman.
Jollibee as of end 2018 had 14 brands across 4,500 stores and 21 countries.
The fast-food chain, to sustain aggressive expansion plans, said it earmarked P17.2 billion in capital expenditures for 2019, primarily for new stores, renovation of existing outlets and investments in manufacturing plants.
The 2019 programmed capital sending is almost double the P9.6 billion it actually invested in 2018.
Jollibee’s net income in 2018 rose 17 percent to P8.32 billion from P7.1 billion in 2017 after opening a record 502 stores.
System-wide sales, a measure of all sales to customers both from company-owned and franchise stores, surged 23.5 percent to P212.1 billion from P171.7 billion in 2017.
Jollibee in 2013 became the number one restaurant company in Asia in terms of market capitalization, and is currently the world’s largest and fastest growing Asian restaurant firm. It is aiming to be among the top five largest restaurant companies in the world.