Jollibee Philippine is adding famous Japanese beef bowl chain Yoshinoya to its portfolio, its first foray into Japanese food.
Jollibee and Yoshinoya have formed a 50:50 joint venture, which will become the franchisee for the Yoshinoya brand in the Philippines. The joint venture will see the opening of 50 more Yoshinoya outlets across the country.
“Jollibee will certainly have a significant positive impact on Yoshinoya’s business in the country, with its extensive consumer knowledge, operational focus, and presence in the Philippines,” said Yasutaka Kawamura, president and CEO of Yoshinoya Holdings.
“This partnership presents us a great opportunity to increase the potential growth of Yoshinoya in the Philippines,” he added.
Yoshinoya currently operates three restaurants in the country. The Japanese chain will join Jollibee’s existing portfolio, which includes Burger King, Greenwich, Pho 24 and Panda Express.
The joint venture follows the announcement of Jollibee about its plan to launch approximately 400 stores, mostly outside the Philippines.