Filipino-based franchisor and operator of quick service restaurant concepts Jollibee Foods Corp. sees Vietnam and India as the next countries where it wants to aggressively expand after conquering the local industry and establishing a solid presence in China.
“We would like to focus more in Vietnam because it is a growing economy so I would like to focus our efforts there,” Tony Tan Caktiong, chairman, Jollibee said in a media report. The company has ten to twelve Jollibee outlets in Vietnam and so far, the stores are doing well.
But instead of bringing in one of his brands in India, Tan Caktiong said the group wants to buy a food company in India and will use this as its stepping stone. The problem however is that most companies operate only small chains of food outlets, the most is 30 stores, he said.
“Among the problems we encountered is the availability of acquisition; they do not have big chains. Also, we do not understand very much its culture,” he said.
“We are still interested if we can do something in India. If it will not coming up next year, then maybe the following year. India is a big country which is why we want to do something there,” Tan Caktiong said.
Jollibee Foods Corp., he said, is in the lookout for potential acquisition in India and has recently hired an Indian manager to join the company.
“We will not bring an outlet there; we might acquire and as long as the valuation is correct and there is a potential to grow it and the character of the people is right, we will give it a go,” Tan Caktiong said.
“We would like to focus more in Vietnam because it is a growing economy so I would like to focus our efforts there,” Tony Tan Caktiong, chairman, Jollibee said in a media report. The company has ten to twelve Jollibee outlets in Vietnam and so far, the stores are doing well.
But instead of bringing in one of his brands in India, Tan Caktiong said the group wants to buy a food company in India and will use this as its stepping stone. The problem however is that most companies operate only small chains of food outlets, the most is 30 stores, he said.
“Among the problems we encountered is the availability of acquisition; they do not have big chains. Also, we do not understand very much its culture,” he said.
“We are still interested if we can do something in India. If it will not coming up next year, then maybe the following year. India is a big country which is why we want to do something there,” Tan Caktiong said.
Jollibee Foods Corp., he said, is in the lookout for potential acquisition in India and has recently hired an Indian manager to join the company.
“We will not bring an outlet there; we might acquire and as long as the valuation is correct and there is a potential to grow it and the character of the people is right, we will give it a go,” Tan Caktiong said.
Source:ImagesFood
