MANILA, Philippines - Jollibee Foods Corp. is expanding its gelato and coffee unit, with its top official baring a plan to triple the number of Caffe Ti-Amo stores in 2011.
In a recent interview, Jollibee chairman and chief executive officer Tony Tan Caktiong said the company is targeting to open at least 10 Caffe Ti-Amo cafés next year.
“We want it to be a mix between company and franchised stores,” Tan said.
Jollibee held the soft opening of its third Caffe Ti-Amo branch in Greenbelt 5 in Makati City on November 20. The café serves caffeinated drinks and gelato, an Italian version of ice cream.
The chain, a brand from South Korea, already has two outlets in the country—at The Annex in SM North Edsa and in SM Manila.
“[We are] looking for new locations. The important thing is [foot] traffic,” Tan added.
Jollibee first announced its plan to enter the coffee and ice cream food sector in May, when it inked a joint-venture agreement with Caffe Ti-Amo Korea Co. Ltd.
The venture, to be the master franchisee of Caffe Ti-Amo in the Philippines, will be equally owned by Jollibee and businesswoman Pamela Tan.
Established in 2006, the Caffe Ti-Amo chain has grown to 269 stores in South Korea.
The Jollibee group operates the country’s largest network of restaurants through its brands which include Greenwich, Red Ribbon, Chowking, Manong Pepe and Mang Inasal. Abroad it has 375 stores including China-based brands Yonghe King and Hong Zhuang Yuan.
Jollibee’s 9-month profit rose 16.3% to P2.15 billion as revenues grew 10.4% to P38.42 billion.
Jollibee sets big plans for coffee chain | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features
Jollibee sets big plans for coffee chain
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