Filipino fastfood conglomerate Jollibee Foods Corp. is set to open its first flagship outlet in Guam next month as part of its aggressive expansion overseas aimed at further boosting revenues.
The pilot Jollibee branch will open in in Micronesia Mall in Dededo on April 6, JFC said in a statement.
This will boost Jollibee’s total store network in the US to 38, spread out in major states such as New York, Florida, Texas, California, and Hawaii, among others.
“This is a special moment in Jollibee’s history. We’ve long dreamed of the day we could serve the beautiful island of Guam, with its unique blend of Pacific, Asian, and American cultures and cuisine,” said Dennis M. Flores, JFC head of International Business for Europe, Middle East, Asia, and Australia.
“We believe that our best-selling Chickenjoy and other favorites will appeal to the diverse people of Guam,” he added.
The expansion is in line with JFC’s strategy to even the split between its domestic and international sales.
JFC, with a market capitalization of around P341.9 billion, owns 14 brands with over 4,300 restaurants across the world.
The group has earmarked P17.2 billion for its capital expenditures this year, mostly for new store openings, refurbishment of existing outlets and upgrade of manufacturing facilities.
It ended 2018 with a total of 4,521 stores across several brands such as Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Pho 24, Yonghe King, Hong Zhuang Yuan, and Highlands Coffee, among others.
The group entered new markets last year — Italy in April, Macau in June, and United Kingdom in October.