Jollibee wants a bigger bite of Guam market

Homegrown fast-food chain Jollibee Foods Corp. (JFC) on Monday announced plans to expand its presence in Guam to five stores by 2024.

“As a growing business center and an island of incredible diversity and taste, Guam will make a great home for Jollibee,” JFC chief executive officer Ernesto Tanmantiong said in an emailed statement.

“We are very excited to be here, and we are looking forward to what lies in store as we grow to give stores over the next five years,” he elaborated.

Jollibee opened its first store in Guam in April 2019, located at the Micronesia Mall in Dededo. The same store was inaugurated only on June 8.

“As we grow our business in Guam, we are excited to contribute to the local economy through employment," said, Dennis Flores, JFC president and head of International Business for EMEAA.

The company plans to open as many as 500 stores this year, half of which are in overseas locations.

According to Jollibee, the plan is to open 250 stores in the Philippines and at least 250 abroad, led by the expansion in Vietnam where at least 120 new stores are envisioned.

In the next five years, Jollibee has committed to expand its presence in the USA with 150 stores, Canada with 100 stores, Europe with 50 stores, and the United Kingdom with 25 stores.

JFC operate in 21 countries, with over 4,500 stores globally. Its brands include Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, and Smashburger. —Jon Viktor Cabuenas/VDS, GMA News