Jollibee Foods Corp. (JFC) has set a target of generating a 50:50 ratio in sales contribution from international and local stores in the next five years.
JFC founder and Chairman Tony Tan Caktiong told reporters that the target was a long-term plan that the company expected to happen in 2022. “I think we can see if we can hit it in 5 years,” Tan Caktiong said.
“I think right now we’re hitting about 20 percent [international sales]. If we include the joint ventures, it’s now 30 percent,” he said on the sidelines of the launching of the company’s 1,000th store in Bonifacio Global City, Taguig City.
JFC has 200 Jollibee stores in Asia, the Middle East, and North America.
“We have about 200. And then if you include the other branches—total, we’re hitting 4,000,” Tan Caktiong noted.
Just recently, the company said it was putting up 350 new stores worldwide this year in line with the vision to have 4,000 branches.
Of the 350 stores, 250 will be overseas and 100 in the Philippines.
Tan Caktiong said the focus would be on existing markets—mainly China, Vietnam, USA, plus the overseas Filipino workers market.
In the same event, the company said it was investing P10 million to train 1,000 youth farmers outside of Metro Manila, in line with the vision to boost the country’s agricultural sector.
“Agriculture is one-third of the total employment in the country. Therefore, if you wanted to sustain the sector, we really need to engage the human capital in it. Right? And if they’re ageing, how can we make farming cool and sexy for the young farmer?” Jollibee Group Foundation Executive Director Gisela Tiongson told reporters.
The P10 million investment will go to certain institutions to equip youth farmers pursue a career in agriculture. The two-tracked training will be community and school-based.