MANILA, PHILIPPINES – Media OutReach Newswire – March 12, 2024 – Jollibee has been recognized as the second fastest growing restaurant brand in the world, according to the latest annual brand rankings report by Brand Finance, the world’s leading independent brand valuation agency. With an impressive 51% increase in brand value to USD 2.3 billion, Jollibee rose from 20th to 17th in this year’s Global Restaurant Rankings.
Expertise in building brands. Jollibee’s 51% brand value increase is a testament to the Jollibee Group’s ability to build brands that are scalable in markets worldwide.
The brand further cemented its position by ranking fifth in the Strongest Restaurant Brands category, increasing its rating from AA- to AAA. In addition, Jollibee is the only Filipino brand listed in the Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands 2024.
“We thank our loyal customers for their love for Jollibee, which enables us to continue to grow the brand and reach more people in different parts of the world,” said Ernesto Tanmantiong, President and CEO of Jollibee Group. “Being ranked as the second fastest growing brand in the world is a testament to the effective work of all Jollibee leaders and teams – past and present – whose commitment to the brand and its customers has helped drive the brand’s sustainable growth over the years.”
Confidence in Jollibee’s strategic direction
Jollibee, the global flagship brand in the Jollibee Group’s extensive portfolio of 18 brands, was founded in the Philippines in 1978. Since then, the brand has grown to include 1,668 locations in 17 countries as of January 2024.
Richard Shin, Chief Financial Officer of Jollibee Group, expressed his confidence in the brand’s strategic direction, saying, “This assessment by Brand Finance gives us confidence that we are on the right track to achieve our strategic goals for the brand. Jollibee’s ability to resonate with consumers in diverse markets and cultures opens up opportunities for further expansion and growth, and increases the potential for enhanced shareholder value for investors and franchisees.”
Global appeal. Jollibee continues to delight its global audience with its great-tasting products at affordable prices, supported by a coherent restaurant system that helps the brand succeed in all markets.
Jollibee’s growth dynamics
Brand Finance’s latest report attributes Jollibee’s remarkable financial performance and continued momentum to its robust expansion initiatives, especially in international markets. With a diverse offering of exceptionally tasty, high-quality and affordable dishes, the brand continues to delight its global audience.
David Beal, Chief Marketing Officer of the Jollibee Group, said: “The impressive growth in Jollibee’s brand value is a testament to the Jollibee Group’s expertise in building globally coveted brands. Our growth is underpinned by delicious offerings, a compelling brand promise and a coherent restaurant system that helps us succeed in all markets.”
To maintain its growth momentum, Jollibee is consistently expanding its store network in key markets such as the US and the Europe, Middle East, Asia and Australia (EMEAA) region, while maintaining its market leadership in the Philippines.
Sustainable growth. Jollibee is now present in 17 countries with 1,668 stores – and the number is growing. The latest milestone opening in Canada is the brand’s 100th store in North America and part of the Jollibee Group’s aggressive growth plans for 2024.
Great brand love for Jollibee
The brand recently reached a significant milestone with the opening of its 100th store in North America, with the first customers waiting in line for 20 hours before the store opened.
The same passionate love for the brand was also evident at store openings in new markets. Huge crowds of people lined up for hours – some having camped out the night before or braved freezing temperatures – to be the first to taste Jollibee’s crispy and juicy chicken, called “Jolly Crispy Chicken” in North America and “Chickenjoy” in the Philippines and other markets. This best-selling product has been voted a fan favorite in markets across Asia, Europe and North America.
Other bestsellers that make customers loyal fans of Jollibee include the Chicken Sandwich, a crispy, juicy chicken breast fillet with umami mayo in a toasted brioche bun, and the Peach Mango Pie made with peaches and Philippine mangoes in a warm, light and crispy crust.
Brand love across different regions and generations. The support of loyal customers across generations and locations has cemented Jollibee’s position as a beloved global restaurant brand.
Hashtag: #Jollibee
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About Jollibee Group
Jollibee Foods Corporation (JFC, also known as Jollibee Group) is one of the fastest-growing restaurant companies in the world. Its mission is to serve delicious food and bring the joy of eating to everyone through 18 brands with over 6,800 stores in 33 countries, including the Philippines, the United States, Canada, the People’s Republic of China, the United Kingdom, Vietnam, the United Arab Emirates and Australia.
The Jollibee Group owns eight wholly owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger); four franchise brands (Burger King, Panda Express and Yoshinoya in the Philippines and Tim Ho Wan in certain areas of China); 80% of The Coffee Bean and Tea Leaf; 60% of SuperFoods Group, which owns Highlands Coffee; and 51% of Milksha, a popular Taiwanese bubble tea brand. JFC also has a business venture with award-winning chef Rick Bayless for Tortazo, a Mexican fast-casual restaurant in the US.
The Jollibee Group, through its subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), owns a 92% stake in Titan Dining LP, a private equity fund that owns the Tim Ho Wan brand. The Jollibee Group has a joint venture with the THW Group to open and operate THW restaurants in mainland China. Recently, the Jollibee Group signed an agreement to establish a joint venture company that will own and operate Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.
Jollibee Group has launched its global sustainability agenda called ‘Joy for Tomorrow’, which aims to strengthen the company’s commitment to sustainable business practices. The agenda focuses on the pillars of ‘Food, People and Planet’ and consists of 10 focus areas, namely: Food Safety, Food Quality, Nutrition and Transparency, Employee Wellbeing, Farmers’ Livelihoods, Community Support, Responsible Business Governance, Packaging and Recycling, Waste Reduction, and Energy and Water Efficiency. Each focus area sets out targets and initiatives that contribute to and align with the United Nations Sustainable Development Goals (UN SDGs).
The Jollibee Group has been named the Philippines’ Most Admired Company for ten years by the Asian Wall Street Journal. It has also been recognized as one of Asia’s 50 Best Companies to Work For by Forbes and one of the World’s Best Employers and Most Women-Friendly Companies in the World. The company has also received Gallup’s Exceptional Workplace Award twice, making it the only Filipino company to receive this award.
To learn more about the Jollibee Group, visit www.jollibeegroup.com.
