Jollibee's Success In The Food Service Industry
The success Jollibee weren't only because of their own brand, but because of acquiring other fast-food chains that allowed the company to penetrate every segment there is in the country.
By: Christine Layug
Jollibee, known today as Jollibee Food Corporation, is one of the biggest corporation in the food service industry of the Philippines. In fact, it was Jollibee that further proliferated the industry of food-service in the Philippines. Although the company was proliferated by their own fast-food chain, the growth of Jollibee was also because of their expansions to other markets.
The first market that Jollibee Food Corporation took over in the country is the hamburger and fries segment, which the company closely competes with other fast-food chains in the Philippines such as McDonald's, Wendy's, and Burger King. Jollibee then decided to further improve their services through other segments. One popular acquisition of Jollibee Food Corporation was Greenwich Pizza.
Jollibee first got hold of Greenwich Pizza when the company sold some of their shares in the public. It was in 1994 that Jollibee Food Corporation obtained a deal acquiring 80% of Greenwich shareholding. 12 years from then, 2006, Jollibee bought the rest of the shares from its owners, making Jollibee the sole owner of the company. This acquisition led to Greenwich Pizza's success in the market, making it the largest pizza and pasta chain in the Philippines. Also, because of this, Jollibee have been able to penetrate the pizza-pasta segment of the food service industry.
Chowking is another popular fast-food chain in the Philippines which was also also acquire by Jollibee Food Corporation. On January 1, 2000, Chowking became a wholly owned subsidiary of Jollibee Foods Corporation, the Philippines' biggest fast-food chain. The change in ownership gave rise to store renovations and a new corporate look and mindset that is visible from front-end to back-end.
Red Ribbon Bakeshop and Délifrance soon followed. Red Ribbon Bakeshop was acquired in 2005, wherein Délifrance was acquired in the same year when Jollibee became the sole owner of Greenwich Pizza, which is 2006. With Red Ribbon Bakeshop and Délifrance, Jollibee Food Corporation were able to penetrate the baking industry in which Red Ribbon specializes in unique collections of cake whereas Délifrance opened up the French cafe-bakery segment for the company. For more information visit to our site at http://www.expressregalo.com