Not long after it has acquired 55 per cent stake at noodle fast food chain San Pin Wang in South China, Jollibee Foods Corporation continues to soar high with plans to tap India and Indonesia markets.
While not a newbie, JFC plans to tap the Indonesian market for its brand Jollibee. JFC already has two outlets in Indonesia – fast food stores bannered Chowking.
“In Indonesia, right now we have Chowking. We are still looking at how to enter Indonesia with Jollibee,” said JFC chairman and CEO Tony Tan Caktiong.
Since there are not large Filipino community in the country, JFC plans to focus on adapting to local tastes.
Meanwhile, JFC plans to enter India through an acquisition within three to five years.
“Probably we have to buy a local brand as we did in China. Probably Indian food,” Tan Caktiong said.
JFC also seeks to reach a broader overseas markets with plans to bring barbecue fast food chain Mang Inasal, where it holds 70 per cent stake, to Middle East and the US where there are large Filipino communities.
JFC also operates pizza chain Greenwich, bakeshop Red Ribbon and fast food chain Burger King.
It boasts 1997 stores in the Philippines and 469 abroad.