Homegrown fastfood giant Jollibee Foods Corp. (JFC) is bringing its flagship brand to downtown Chicago this January as part of its expansion in North America, its largest market outside the Philippines.
The opening of the new Jollibee store will mark the brand’s 57th outlet in the United States and its third location in the state of Illinois. The new branch is located at 116 S. Michigan Ave., just steps away from some of Chicago’s most-visited destinations such as the Millennium Park and “The Bean.”
“The iconic Michigan Avenue is a bustling international shopping and dining destination that attracts swarms of locals and tourists year-round. We are excited to make Jollibee more accessible to our loyal fans who live in the area and to introduce our menu and warm, friendly service to the residents and tourists of Chicago,” Maribeth dela Cruz, president of Jollibee Group North America for Philippine brands, said in a press statement.
North America accounts for about 15 percent of JFC’s total sales, excluding the Coffee Bean & Tea Leaf (CBTL) which separately accounts for about 11 percent, based on analyst estimates. This makes it its largest overseas market in terms of sales.
JFC, which aspires to be one of the top five fast-food groups in the world, operates in 34 countries, with over 5,800 stores globally.
JFC’s Chinese fastfood brand Chowking, meanwhile, recently debuted on the US East Coast with the opening of its first store in Jersey City, the second-most populous metropolis in New Jersey with a thriving Filipino community.
Apart from its homegrown brands, JFC has accelerated its international market expansion with the acquisition of CBTL in 2019.
For its North American expansion, JFC also bought into American casual burger chain Smashburger in 2015 and took full control of the business in 2018. Before Christmas, Smashburger opened a new branch in New York’s Times Square. The chain has opened a total of 17 new stores in 2020.
JFC booked P2.7 billion in net profits in the first nine months, a turnaround from the same period last year when tough lockdowns and other pandemic disruptions resulted in a P13.54-billion net loss.