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Jollibee forges ahead with expansion through downturn
Jollibee will continue expanding through the economic crisis, the Filipino fast food chain said Wednesday.
“In the near future, we want to derive at least half of our revenues from outside the Philippines, both from organic growth and acquisitions,” Jollibee Chairman Tony Tan Caktiong said.
According to the plan, seven more stores will be opened in 2009 – four in Saudi Arabia, and one each in Dubai, Qatar and Brunei. In the US, Jollibee will also open seven more stores before the end of 2010.
Jollibee currently operates more than 660 stores in the Philippines and about 50 in the US, Vietnam, Hong Kong, Saudi Arabia and Brunei.
It plans to have 4,000 by 2020, with 75 percent outside the Philippines contributing 60 percent of the company’s total revenue.
Vinh Bao
thanhnien
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