Company Profile: Jollibee is a phenomenal success story: when beganTony Tan Caktiongand hisfamily opened a Magnolia Ice Cream parlor from Bankerohan, Davao City toCubaoin1975 with Jolibee as the original name. Sometime in 1978, Caktiong and his brothers andsisters engaged the services of a management consultant, Manuel C. Lumba. Lumbashifted the business focus from ice cream to hamburgers, after his studies showed that amuch larger market was waiting to be exploited. Lumba became Caktiongs first businessand management mentor. Lumba next re-formed the name Jolibe to Jolly Bee and madethe two words form a single name, Jollibee, changing the y to an i. They also offeringhot meals and sandwiches became incorporated in 1978 with seven outlets to explore the possibilities of a hamburger concept. Thus was born the company that revolutionized fastfood in the Philippines.The Jollibee mascot was inspired by local and foreign childrens books. Lumbanext created the product names Yumburger and Chickenjoy. He had the companyincorporated and leased a house on Main St. in Cubao, Quezon City as the firstheadquarters. Lumba formulated a long-term marketing strategy: listing up a number of consumer promotions and traffic building schemes. Caktiong stressed that developinginternal strengths was critical. The stores were re-designed, the service transformed into afull self-service, fast-food operation with drive-through. Not long after, Caktiong andLumba went on an observation tour in the United States, attended food service andequipment conventions. Caktiong placed Lumba in charge of franchise developmentIn 1984, Jollibee hit the P500 million sales mark, landing in the Top 500Philippine Corporations. In 1987, barely 10 years in the business, Jollibee landed into thecountry’s Top 100 Corporations. It became the first Philippine fast food chain to break the P1 billion sales mark in 1989. In 1993, Jollibee became the first food servicecompany to be listed in the Philippine Stock Exchange; thus broadening its capitalizationand laying the groundwork fo r sustained expansion locally and beyond the Philippines As the countrys leading fast food chain, Jollibee has grown exponentially on allaspects on operation. From a handful of stores 32 years ago, Jollibee now boasts of morethan 600 stores and over 50 international stores.To achieve its long-term goal to be the country’s food service leader, Jollibeeacquired Greenwich Pizza in 1994. A year later, the company obtained the franchise of Delifrance, an international food company. These moves expanded Jollibee’s penetrationin the pizza-pasta and French café-bakery segments. In 2000, the strategic acquisition of Chowking solidified the company’s position as the dominant leader. The move gave itleadership in the Oriental quick-service restaurant segment.Jollibee’s rapid growth is due to its superior menu line-up, creative marketing programs, and efficient manufacturing and logistics facilities. It is made possible by well-trained teams that work in a culture of integrity and humility, fun and family-like.As a corporate citizen, Jollibee is also committed to give back to its hostcommunities through meaningful and lasting socio-civic projects.
Posted on: Tue, 11 Mar 2014 07:34:11 +0000
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