Jollibee Foods Corp. said Wednesday it expects to maintain its position as the country’s leading fast-food chain despite different challenges, including the increased competition from rival McDonalds and the government’s new regulation on contractualization.
Jollibee issued the statement in reaction to a report from investment bank Macquarie that McDonalds was closing in on Jollibee in terms of preference and that the new labor rules could affect its leading position in the local fast-food industry.
Alliance Global Group Inc. president Kingson Sian, whose group owns a 49-percent interest in Golden Arches Development Corp., the master franchise holder of McDonalds in the Philippines, was optimistic about McDonalds expansion.
“We have always said if we [Jollibee and McDonalds] are in the same location, we are confident we can compete toe to toe with Jollibee. But right now, they have more locations than us,” Sian in a recent interview. “So the strategy for us is to increase the number of stores. If we can match in terms of size then we can complete head on,” he said.
