After Tim Ho Wan, Burger King, Panda Express, The Coffee Bean & Tea Leaf, and Pho24, Jollibee has decided it’s time for its first-ever Japanese food chain venture, Yoshinoya.
In its 50-50 joint venture with Yoshinoya International Philippines, Jollibee Foods Corp (JFC) will be leveraging off the brand’s signature gyudon beef bowls. Although its impact won’t be as significant yet due to the limited number of Yoshinoya stores, the collaborative deal has a huge potential in tapping the delivery market. The long-term goal of the business agreement is to open 50 stores in the country.
The local-turned-international fast food giant believes that Yoshinoya’s knowledge in Japanese cuisine will be a great asset in making up for JFC’s losses from the COVID-19 crisis. Last year, it closed down 486 stores worldwide with an P11.5 billion net loss.
JFC currently has 3,217 nationwide outlets of both its wholly-owned brands and foreign franchise acquisitions, while 2,607 stores operate across the globe.