Fastfood giant Jollibee Foods Corp. is gearing for higher growth this year despite rising inflation as it plans to remain aggressive with store expansion and acquisitions both here and abroad.
Jollibee president Ernesto Tanmantiong said during the annual stockholders’ meeting held Friday the company was focused on extending its market leadership in the domestic market by leveraging its multi-brand portfolio to compete at different price points and market segments.
The company also plans to expand the store network of foreign franchise brands in the Philippines, namely Burger King, Panda Express and Yoshinoya.
Tanmantiong said the group would continue to expand strategically and profitably in international markets through an aggressive organic growth expansion and acquisitions in three pillar markets, namely the Philippines, China and North America.
Jollibee earlier earmarked P17.8 billion for capital expenditures this year, 128-percent higher than the P7.8 billion spent in 2021, to fund the rollout of 500 stores.
