Jollibee Vietnam plans to expand to 300 stores in the next three years.
“Vietnam will have 95 million people and the economy is also growing,” says chairman Tony Tan Caktiong of the Filipino fast-food chain.
Aside from Vietnam, Jollibee has planned to expand in Japan, Toronto and Manhattan, ending the year with 4000 stores worldwide. In its home market, Jollibee has opened its 1000th Philippine branch in Taguig, 40 years after the company launched.
Jollibee arrived in Vietnam in 1996 and started franchising at the end of 2015. It now has 98 stores in Vietnam.
Tan says there has been a demand in Vietnam for its other brands, “but probably we will focus first on Jollibee, Highlands Coffee and Pho 24”.
Expansion plans call for a combined total of 485 stores for Highlands Coffee and Pho24, mainly in Vietnam as well as Asia and Australia. Highlands Coffee currently has 159 outlets while Pho 24 has 33 stores.
Jollibee and partner Viet Thai International plan to list JV Superfoods, which owns Highlands Coffee and Pho24, on the Vietnam Stock Exchange by July 2019.