Retail News CRM

Author: Mei Ling Tan

  • South Korea, Indonesia to cooperate to sell aircraft globally

    South Korea, Indonesia to cooperate to sell aircraft globally

    Korea Aerospace Industries, the country’s sole aircraft manufacturer, said Wednesday it had signed an initial agreement with an Indonesian company to sell its products in the global market.

    In the 2016 Indo Defence Expo and Forum set to run from Wednesday through Saturday in Jakarta, KAI and PT Dirgantara Indonesia (PTDI) agreed to carry out joint marketing to export aircraft in Southeast Asia, the Middle East and Africa, KAI said in a statement.

    “The two companies will expand their cooperation in passenger carriers, military aircraft and aerospace businesses,” KAI Chief Executive and President Ha Sung-yong said in the statement.

    Under the pact, KAI aims to export the KUH-1 Surion utility helicopters to Indonesia as its military is expected to gradually replace the aging fleet of 200 choppers. It will help the PTDI improve its aircraft maintenance capabilities, and the PTDI will help KAI win local projects in aircraft maintenance, repairs and operations, it said.

    The two aircraft companies also plan to jointly develop unmanned aerial vehicles (UAVs) and promote their aircraft in global markets through joint marketing, KAI said.

  • Big plans in store for Indonesia tourist destinations

    Big plans in store for Indonesia tourist destinations

    As tourism slowly takes its place as a new engine of economic growth, the government is making aggressive plans to improve and promote new tourist destinations.

    Morotai in Maluku, Labuan Bajo in West Nusa Tenggara and Tanjung Lesung in Banten are three names that may sound unfamiliar to the domestic and international community, but they are among the so-called 10 emerging tourist destinations that the government expects can be as famous as Bali.

    The other seven destinations are Tanjung Kelayang in Belitung, Wakatobi in Southeast Sulawesi, Lake Toba in North Sumatra, Bromo-Tengger-Semeru in East Java, the Thousand Islands in Jakarta, Borobudur in Central Java and Mandalika in West Nusa Tenggara.

    However, raising them to Bali’s level will take a lot of work, a fact acknowledged by the government, especially as it hopes to attract 20 million foreign tourists by 2019.

    In its latest Indonesia Economic Quarterly report, the World Bank states that implementation of this plan will require efforts on multiple fronts and infrastructure will play a crucial role.

    Indonesia currently ranks in the bottom half of countries on several infrastructure-related tourism competitiveness indicators, such as ground and port infrastructure, tourist service infrastructure, health and hygiene, information and communications technology (ICT) readiness and environmental sustainability.

    The Public Works and Public Housing Ministry, one of the government’s most strategic posts for infrastructure development, has stated that it will focus on infrastructure development for three destinations in the next two years, namely Lake Toba, Mandalika and Borobudur.

    An integrated master plan for the development is also being formulated by the Public Works and Public Housing Ministry and Tourism Ministry.

    “I hope with the integrated master plan, there will be cooperation between ministries and regional governments for the development of the three destinations,” Rido Matari Ichwan, the ministry’s regional infrastructure development agency (BPIW) head, said recently.

    The government has allocated Rp 1.6 trillion (US$122.74 million) in the state budget in 2016 and 2017 for various infrastructure projects in the three destinations, including road access, water system, drinking water, waste management and housing, among others.

    Data from the Public Works and Public Housing Ministry reveals that the development plan for Lake Toba includes the construction of toll roads connecting Medan-Kualanamu-Tebing Tinggi and Tebing Tinggi-Siantar-Parapat, access road to the Sibisa airport in Parapat and 14.3 kilometers of piping in Simalungun, among others.

    Development for Borobudur includes initiatives such as self-built housing development in Magelang, a toll road connecting Yogyakarta and Bawen, a regional drinking water system, and reconstruction and expansion of several roads.

    Meanwhile, Mandalika will see several works carried out, such as the Sulin bridge improvement, road expansion and maintenance, and irrigation network construction in central Lombok.

    Rido added that the ministry would also cooperate with the Transportation Ministry on the development of the airports in the new tourist destinations.

    In addition to state budget funds, the government is also seeking other funding sources. It is looking to obtain a US$200 million to $500 million loan from the World Bank to fund the infrastructure development in the three destinations.

    Discussions are taking place and the loan is expected to be ready for disbursement by July next year.

    Tourism Minister Arief Yahya previously stated that the government would also launch a limited participation mutual fund (RDPT) by next year, through which it sought to garner Rp 10 trillion to develop all 10 destinations.

    “We will use the funds to build amenities. They will be channelled first to the four special economic zones [and tourism destinations], such as Tanjung Kelayang, Tanjung Lesung, Mandalika and Morotai,” he said.

    The World Bank says the government will also need to attract private investment to finance its goals.

    Early indicators are promising, with total foreign and domestic direct investment in hotels and restaurants reaching nearly $1 billion in 2015, an increase of 45.5 percent compared to 2014, while the number of investment licenses approved in the hotel and restaurant sectors surged more than five times to 266 licenses in 2015 from 2014.

    Licensing simplification is one important aspect that will help spur more investment, according to the World Bank. “As a first step, it will be essential to establish an inventory of the number and type of business licenses needed [at the national and subnational level] to establish a tourism-related business,” he added.

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  • Foreigners take control of Vietnam’s KAfe Group

    Foreigners take control of Vietnam’s KAfe Group

    Vietnamese chain KAfe Group has been bought out by foreign investors and its founder ousted.

    The unidentified foreign investors have increased the business’ capital from VND16 billion to VND244.825 billion (US$10 million).

    KAfe’s founder and CEO, Chi Anh Dao, has stepped down from her role and has not been involved in any business activities of The KAfe since October 25.

    In October last year, KAfe Group secured US$5.5 million Cassia Investments-led Series A funding to expand its business throughout Vietnam and the Southeast Asia region. It had also planned to list on the Hong Kong stock exchange.

    But the expansion has not been as successful as anticipated and The KAfe outlets in Hanoi and HCMC have not attracted as many customers as budgeted.

    KAfe Group, founded in 2013, is described as an urban fusion food company. It currently operates 20 outlets in Hanoi and HCMC under four brands: The KAfe, The KAfe Village, The KAfe Box, and The Burger Box. The group has recently bought a cupcake chain, and plans to expand to tea and juice business.

    Before announcing its capital change in June, the KAfe faced financial troubles with reports of suppliers going unpaid.

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  • SpeedCast buys Harris CapRock for $425m

    SpeedCast buys Harris CapRock for $425m

    Satellite services provider SpeedCast has arranged to acquire Harris CapRock for $425 million, to strengthen its presence in the maritime industry.

    CapRock also has a large presence in the energy industry, giving SpeedCast an avenue for future expansion.

    The combined company will service over 6,200 maritime vessels, hundreds of offshore edge and platforms, as well as enterprise and government customers worldwide.

    “The acquisition of Harris CapRock is a transformational opportunity for SpeedCast. With this acquisition SpeedCast becomes the global leader in the industry, with a scale that enables us to deliver world-class services and support in over 100 countries,” Speedcast CEO Pieere-Jean Beylier said.

    “Harris CapRock’s industry-leading product and technology portfolio also gives us the ability to deliver innovative new offerings to customers across the maritime, energy, enterprise, telecom and government segments.”

    He said the acquisition will also help SpeedCast expand its presence in the cruise ship segment of the maritime market, building on the company’s acquisition of Europe-based WINS Limited from Eutelsat Communications and Maltasat for €60 million ($66.3 million) earlier this year.

    The deal requires anti-trust and regulatory approval, and is expected to be complete by the end of the first quarter next year.

  • Guangzhou Auto raising up to $2.2 bln in green car, proprietary brand push

    Guangzhou Auto raising up to $2.2 bln in green car, proprietary brand push

    China’s sixth-largest car maker by sales, Guangzhou Automobile Group (GAC Group) , plans to sell up to 15 billion yuan ($2.2 billion) worth of shares to fund development of its green car business, proprietary brands and factories, the firm said late on Monday.

    Chinese automakers have invested billions in developing electric and petrol-electric hybrid vehicles at the direction of the government, which sees green cars as a way to leapfrog global competitors more experienced in traditional petrol engines while also cutting heavy pollution.

    Five investors involved in the private placement of GAC Group A-shares are mainly controlled by the government in the southern metropolis of Guangzhou, Thomson Reuters’ IFR reported on Tuesday.

    The automaker, like most domestic peers, is a state-owned enterprise.

    GAC Group said in an exchange filing that the proceeds would be used in 10 projects, with nearly a third of the funds to be spent on research and development of green energy cars and other technology.

    Other projects include factory expansion and improvement and developing a host of new models for its GAC Motor brand.

    The automaker’s Shanghai-listed shares jumped 9.6 percent after resuming trading on Tuesday, closing the session up 6 percent. Trading had been halted on Oct. 18 pending the announcement.

    The newly issued shares account for roughly 10 percent of the automaker’s outstanding stock.

    In addition to making cars under a wholly owned brand, GAC Group also makes vehicles through joint ventures with Toyota Motor Corp, Honda Motor Co Ltd and Fiat Chrysler Automobiles NV.

  • Ant Financial teams with Thailand’s Ascend Mobile

    Ant Financial teams with Thailand’s Ascend Mobile

    Ant Financial Services Group has announced a strategic agreement with Thailand fintech company Ascend Money.

    Under the agreement Ant Financial will invest in Ascend Money, with the aim of accelerating the growth of a mobile lifestyle and digital financial services platform in Thailand and support the company’s growth in Southeast Asia.

    Headquartered in Bangkok, Thailand, Ascend Money operates in six countries, including Thailand, Indonesia, the Philippines, Vietnam, Myanmar and Cambodia. Ascend Money targets two under-served groups, including digital consumers with its innovative mobile wallet application and the under-banked with its massive agent network.

    It currently provides payment services such as domestic and international remittance, bill payment, top up services, online and offline payments and payroll services. Future services will include lending, insurance and investment.

    Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its payment services for users and merchants. The deal represents Ant Financial’s first-ever investment in a Thailand-based company. With this partnership Ant Financial, which also runs Alipay, the largest mobile lifestyle and payment app in China, will provide Ascend Money with strategic and technical support for the growth of its business.

    Leveraging Ant Financial’s capabilities in payment, Big Data, risk control and cloud computing capabilities, the partnership with Ascend Money aims to offer Thai consumers comprehensive and equal access to financial services. Ascend Money is Ant Financial’s first partner in Southeast Asia and second globally after Paytm in India.

    “Ascend Money’s mission is to enable everyone access to innovative financial services, leading to better lives,” said Suphachai Chearavanont, Chairman of Ascend Group. “The shared vision of financial inclusion and company values in creating opportunity and sustainability have lead us to this partnership.”

    “Ant Financial is setting its footprint worldwide, not only to provide services for its Chinese users, but to promote equal access to financial services globally,” added Ant Financial SVP Douglas Feagin.

    “Partnerships are vital for Ant Financial’s growth and we want to work alongside companies around the world who share our missions.”

    In early 2015 Ant Financial joined forces with Paytm, the world’s fourth largest e-wallet, to promote secured digital payment to local users in India. Ant Financial is also working with dozens of global payment partners, including Concardis, Ingenico, Wirecard and Zapper in Europe, First Data and Verifone in North America, Paysbuy and Counter Services in Southeast Asia, Recruit in Japan and KICC and ICB in Korea.

  • Esprit Holdings’ sales decline is no surprise

    Esprit Holdings’ sales decline is no surprise

    In line with expectations, a first-quarter decline of 11.8 per cent in sales has been recorded by clothing, footwear, accessories, jewellery and housewares manufacturer Esprit Holdings.

    It says the results for the quarter ended September 30 were as expected following a reduction in operating costs and store footprint. The company reduced total controlled space (retail and wholesale) by 14.5 per cent, closing unprofitable stores. During the quarter it closed 9240 sqm of retail net sales area, (mainly concession counters in China), further reducing the group’s retail net sales area to 282,332 sqm.

    Because of structural pressure in its wholesale channel, its controlled space was also further reduced, by 13,304 sqm in the quarter to 343,448 sqm. Notwithstanding this, the decline in wholesale revenue was 11.4 per cent, reflecting an improvement in space sales productivity, Esprit said.

    While sales productivity continued to improve in July and at the beginning of August, this turned negative in line with general market developments. Since mid-August temperatures in Europe were far higher than during the same period last year, significantly impacting store traffic and initial sales of the autumn collections both offline and online.

    For the Asia Pacific, lower consumer traffic hit sales, as well as a strategic decision to restructure the company’s retail footprint and cut back on promotional activity. “As expected, these measures put short-term pressure on revenue, but they are crucial for Esprit to regain profitability in the mid-term,” said the group.

    “Despite the weak sales development in the first quarter, the group’s results remain on track and management stays focussed on the execution of the strategic plan: developing the vertical and omnichannel models; tackling the challenges in the wholesale channel and in Asia Pacific; and pushing the reduction of structural costs further in order to continue the recovery of the group’s overall profitability.”

  • OCBC adds Siri, iMessage support to Pay Anyone

    OCBC adds Siri, iMessage support to Pay Anyone

    OCBC Bank has integrated its Pay Anyone e-payment service with Siri and iMessage to enable peer-to-peer payments supported by voice and messaging technology

    OCBC has enabled payment commands on its mobile banking app to be facilitated via Apple’s Siri or iMessage.

    Users can now issue a voice command to Siri, Apple’s virtual assistant, specifying the payee and payment amount to make payments. Customers can also send money to others via iMessage, Apple’s messaging platform.

    The Siri and iMessage services for OCBC Pay Anyone, the payment service within OCBC’s mobile banking app, are available to all OCBC Bank customers using iPhone devices running the iOS10 software and the latest OCBC Mobile Banking app. Payments are authenticated by the customer using their mobile banking credentials.

    To send money using Siri, users need to instruct Siri with a voice command indicating whom from their contact list to send money to, and the amount to send. Upon making this request, the Siri interface will pop up on the iPhone, asking the user to confirm the payment details. Once the payment details are confirmed, the user will be guided to complete the transfer using OCBC Pay Anyone.

    Additionally, users can choose to send money via iMessage while texting their friends, without leaving the conversation by closing the messaging app or opening another app. Within the iMessage conversation screen, users can choose the OCBC Pay Anyone iMessage app to initiate payment directly to the person they are chatting with.

    The app automatically populates the recipient’s name, and the user just needs to indicate the amount to send and complete the transaction with OCBC Pay Anyone. Once the money is sent, the OCBC Pay Anyone app will close and the user can resume chatting within the same iMessage window.

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  • Indonesia amends controversial internet law

    Indonesia amends controversial internet law

    Indonesia’s House of Representatives has passed amendments to the controversial Electronic Information and Transactions Law to reduce penalties and set more clear definitions.

    The strict law lays out tough penalties including jail time for online defamation and “online intimidation,” and has provoked controversy on multiple occasions due to its use to stifle what is seen as legitimate speech.

    The new amendments set a definition of what constitutes defamation to prevent a loose interpretation of the law.

    Additionally the revisions reduce jail time for defamation to four from six years, and for online intimidation to four from 12.

    The amendments also introduce a “right to be forgotten” – giving courts the ability to request the deletion of certain online information.

    In terms of enforcement the revisions include new regulation governing how state authorities should investigate internet-related crimes, and synchronize procedures on confiscation, seizure, arrest and detention with Indonesia’s criminal law.

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  • Indonesian Muslim fashion brand penetrates British market

    Indonesian Muslim fashion brand penetrates British market

    Indonesian Muslim fashion brand Elzatta Dauky by Elhijab successfully penetrated the UK market at the Muslim Lifestyle Expo in Manchester city over the weekend.

    “Elzatta Dauky is participating in this exhibition for the second time, having appeared previously at the Indonesian Weekend,” the companys Head of Brand Strategy Ina Binandari said here on Tuesday. In addition to exhibiting Muslim fashion products, Elzatta Dauky also showcased 10 designs at a fashion show themed “Gloomessence.”

    The Muslim Lifestyle Expo, one of the biggest Muslim-focused fairs in the world, saw participation from over a hundred exhibitors from various countries, including the United States, Turkey, Germany, Russia, Austria and Malaysia.

    Elzatta Dauky was the only Indonesian participant.

    The organizers said more than 10,000 people from across the city had visited the exhibition.

    Speaking of the brands future plans, Binandari explained that Elzatta Dauky by Elhijab was gearing up to launch an online store in the United Kingdom.

    “Hopefully, with the online store, we will be able to meet the fashion demands of the Muslim community here,” Binandari stated.

    Reports from Thomson Reuters suggested Muslim consumer spending on food, lifestyle products, and services will reach an estimated 1.9 billion pounds sterling in 2020, up from the 1.3 billion pounds sterling seen in 2014.

    Data from the Office for National Statistics, released in late January 2016, show that the number of Muslims in the United Kingdom has, for the first time, exceeded three million, amounting to 3,114,992 people in 2014, equivalent to 5.4 percent of the total population of the country.

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  • Big C profit grows despite challenging economy

    Big C profit grows despite challenging economy

    Thai hypermarket operator Big C Supercenter boosted margins in the latest quarter despite the challenging economic climate.

    The company has reported continued resilient rental and service income growth, margin improvement across the board thanks to a focus on the quality of sales – delivering a “robust” Big C profit boost.

    The third quarter to September 30 was the first full reporting period of its new strategic focus on quality of sales rather than the absolute sales amount.

    “On our operations we continued our push to localise our offer in order to become the ‘Thai retailer with customers in our heart’ as we will be better positioned to serve local communities and their varying tastes,”explained Rumpa Kumhomreun, CFO & VP of accounting and finance, in a filing with the Thai SET. “Our work to capture synergies between BJC and Big C is continuing, and during the quarter we for example moved some of our private label tissue manufacturing to BJC. We also started serving Big C Soft Serve ice cream in pilot hypermarkets and Mini Big C stores. Our access to TCC “land bank” also made it possible for us to open an additional Big C Market store at Pantip Chiang Mai during the quarter.”

    The company also improved its online offer, rebranding its Cdiscount.co.th to Cmart.co.th, with over 70,000 SKUs available.

    Big C’s Total Revenues from retail sales, rental and service income, and other income, for the quarter reached Baht 25.892 billion – a decline of Baht 5.799 billion or 18.3 per cent over the same period last year. This decrease was driven by a retail sales decline of 20 per cent from the same period last year, and a same-store-sales decline of 22.6 per cent.

    “The significantly declining same-store-sales trend was driven by our strategic focus on the quality of sales rather than absolute sales volume,” said Kumhomreun.

    With a similar fall in expenses, however, Big C’s net income attributable to shareholders grew by 14.6 per cent to Baht 1.538 billion for the quarter, up Baht 196 million year-on-year.

    Gross profit margin reached 17.8 per cent for the quarter, representing an increase of 487 basis points from last year.

    Store expansion continued during the quarter in all store formats, with two hypermarkets opening in Phonphisai and Na Thawi, two Big C Market stores in Loei and Chiangmai, 23 Mini Big C stores including 15 franchise stores, and one Pure Drugstore. Those took the store count at the end of September to 128 large format stores (Big C Supercenter, Extra, and Jumbo), 59 Big C Market, 431 Mini Big C (including 21 franchise stores), and 142 Pure Drugstores.

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  • IAG to construct freight facility

    IAG to construct freight facility

    IAG Cargo has announced that it is set to build a new premium freight facility at its London Heathrow Hub. The new building will be twice the size of IAG Cargo’s existing Premia facility and has been designed around the modern demands of premium airfreight.

    With a larger dedicated Constant Climate Quality Centre for pharmaceuticals; new delivery and collection doors and an advanced warehouse management system that will prioritise freight. The facility is designed to support the future demands of international premium trade.  Set to become operational in 2018, the building will operate alongside IAG Cargo’s existing Premia facility.

    The new building will manage the flow-through of all express Prioritise shipments and passive Constant Climate shipments.

    Drew Crawley, CEO of IAG Cargo said: ‘IAG Cargo’s four airlines now carry more premium freight than at any point in their combined history. With the continued growth of high speed e-commerce and cool chain logistics in particular , as well as the ongoing expansion of the IAG family and network, we need facilities that are ready for the next generation of premium freight.’

    ‘We believe that the  blend of our next generation aircraft, new freight facilities such as this one and our expanding  network means that IAG Cargo is extremely well positioned in the market to meet the current and future premium freight demands of all our customers. Our new premium warehouse will be built away from existing Premia, leaving our current operation and customer service unaffected.”

    Sarah Coulson, Head of Strategy and Business Development at IAG Cargo said: ‘Over the past few years we have continued to see year on year growth in premium freight. Our commitment to consistently deliver a high level of service to our customers has undoubtedly influenced our strong performance in this market. We want to continue our growth and performance in this sector and our new facility will help deliver this.’

    IAG is in the midst of a major fleet renewal programme, which is opening up new route opportunities and providing greater capacity on key trade lanes. The new facility will be designed to accommodate this growth, offering optimised handling capabilities and an enhanced premium proposition.

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  • Pop-up cafe inspired by PPAP

    Pop-up cafe inspired by PPAP

    With a bright exterior and unusual menu, the world’s first official PPAP cafe opens in Tokyo tomorrow.

    PPAP? That stands for Pen Pineapple Apple Pen, a music video by Japanese comedian Kosaka Daimaou’s stage character Piko Taro. It made its debut on YouTube on August 25, receiving more than 7.9 million views and 4000 comments within its first month.

    ppap

    There are even spin-off products including Pen Pineapple Apple Bread from a Japanese bakery in Kanagawa. Now the comedian’s management company has teamed up with the Tree Village store area at the foot of Tokyo Skytree for an official cafe.

    The pop-up cafe, open until November 20, features Piko Taro surrounded by the colours of a golden pineapple, while the store sign includes images of a pen pineapple and an apple pen. The menu features items branded with the PPAP logo, including parfaits, pancakes, soft drinks, a burger, and fresh pineapple juice served inside a whole fruit. Prices range from 420 yen (US$3.99) for the tea up to 878 yen for the pineapple juice.

    Most of the items include a chocolate “pen” and slices of fruit so diners can act out the song while eating. Customers can also take home a souvenir coaster with each order. There will also be branded merchandise to buy

    Daimaou has meanwhile been awarded a Guinness World Record for the shortest song to appear on the US Billboard Hot 100 charts, where PPAP made its debut at number 77.

    Dragon Ball

    Also cashing in on Japan’s taste for the bizarre, three cafes are opening to pay tribute to anime hit Dragon Ball, which burst on to TV in Japan 30 years ago.

    In a collaboration with Tower Records, three Dragon Ball cafes will be opened in Japan, serving food and drinks inspired by creator Akira Toriyama.

    The cafe interiors will be decorated with art from the martial arts series, with the outlets in Tokyo’s Shibuya and Osaka’s Umeda neighbourhoods offering Vegeta Salad, Yamcha Spaghetti, and Bulma’s “I’ll Give You Romantic” Cake, all featuring character artwork. The drink menu includes beverages based on Goku’s Flying Nimbus cloud and the mystic Dragon Balls themselves, plus latte art coffee featuring Master Roshi’s insignia and the series logo.

    Tokyo’s second Dragon Ball Cafe, on the swanky Omotesando avenue in Harajuku, has a different food offering such as Goku’s Finishing Technique Kaio-ken Red Curry, Majin Buu’s Turn You Into Candy Sweets Plate, Flying Nimbus Pancake and Piccolo’s Ma Junior Soda.

    Customers will also receive special coasters while supplies last, plus there will be limited-edition merchandise.

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  • India’s Trai sets 512kbps broadband speed minimum

    India’s Trai sets 512kbps broadband speed minimum

    The Telecommunications Regulatory Authority of India (Trai) has instructed the market’s fixed line operators to guarantee a minimum download speed of 512kbps at all times.

    In a new directive, Trai set the minimum required speed to be considered broadband at 512kbs and ordered the nation’s operators not to reduce their speeds below this even when throttling customers for excess data use.

    ISPs as well as mobile broadband subscribers have also been told to provide information on data usage limits, connection speeds and capped speeds in any advertisements published in any media covering broadband plans.

    New and existing subscribers must also be informed of this information over email or SMS.

    Finally, operators will need to provide alerts to customers via these channels when their data usage reaches 50%, 90% and 100% of their allocation, and to maintain a portal or website to allow users to access their usage at any time.

    Operators including Bharti Airtel, Reliance Communications and Sistema Shyam Teleservices had urged the regulator to allow throttling to speeds of just 64kbps to prevent misuse of fixed broadband services. With the directive this request has now been rebuffed.

    But on the other hand, the government had previously considered setting 2Mbps rather than 512kbps as the minimum speed.

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  • Jollibee Foods counts down to 1000

    Jollibee Foods counts down to 1000

    Jollibee Foods (JFC) has opened the 991st branch of its flagship brand Jollibee in the Philippines, in the Ma-a area of Davao.

    It marks the start of its countdown to its 1000th store, to be unveiled in the first quarter of next year. Its expansion is spread around Cebu, Luzon and Metro Manila “so all the regions will be well represented”, says Jollibee corporate PR and events manager Dennis Reyes.

    “The 1000th store is symbolic, but we cannot divulge yet the exact location,” he says.

    The company opened its first branch in Cubao, Quezon City, and its latest story is the 26th in Davao and 115th in Mindanao.

    Reyes says the countdown campaign is part of Jollibee’s way of thanking its patrons, celebrating its continued expansion as well as the contribution to the local economy with an average of 70 jobs created for every new branch.

    JFC is investing P10.4 billion (US$214.8 million) for capital expenditure this year, with P7.5 billion set for the opening of 200 outlets as well renovations.

    For its latest six months, JFC netted P3.06 billion, or 13.4 per cent more than the same period last year, following a 14.9 per cent increase in system-wide retail sales to P71.45 billion.

    At the end of June, the company had 2528 restaurant outlets in the Philippines under the brands Burger King (62), Chowking (457), Greenwich (237), Jollibee (939), Mang Inasal (455) and Red Ribbon (378).

    JFC also has a 50 per cent interest in 12 Hotpot, Highlands Coffee and Pho 24 (Vietnam), plus a 40 per cent interest in Smashburger (US).

    Outside the Philippines, Jollibee has 80 stores including Vietnam (32) and Hong Kong (1).