Retail News CRM

Tag: Fastfood

  • CITIC Offloads McDonald’s Stake

    CITIC Offloads McDonald’s Stake

    CITIC has plans to sell a 22 percent stake in McDonald’s Chinese mainland and Hong Kong business to its parent group’s private equity arm.

    The main listed arm of the Chinese state-owned CITIC Group, CITIC Ltd., will aim to raise at least 2.17 billion yuan, according to a report citing a Beijing bourse filing.

    The report also underlined CITIC Capital, the group’s alternative investment arm, as the likely buyer of the stake, adding to its $26 billion in assets already under management. Finalization of the deal is earmarked for early February, one of the sources added.

    McDonald’s said that strategy and daily operations at its mainland and Hong Kong business would be unaffected by the deal. CITIC also provided assurances, noting that the deal was a purely «commercial decision» and that it would continue cooperation with McDonald’s business in China.

    CITIC will be selling the 22 percent stake through Fast Food Holdings Ltd., a holding firm set up with CITIC Capital to hold the combined 52 percent stake of McDonald’s mainland and Hong Kong business. Following the deal, CITIC Ltd. will still hold 10 percent of the regional McDonald’s business.

    Lees ook:

    Lees ook:

  • Jollibee Becomes Brunei’s No.1 Fastfood Chain

    Jollibee Becomes Brunei’s No.1 Fastfood Chain

    Chargé d’ Affaires, a.i Pete Raymond V. Delfin of the Philippine Embassy in Brunei Darussalam met with Jollibee Foods Corporation Assistant Vice President Rodel F. Alcantara, and Jollibee Country Head Christina R. Ward at the Embassy on 10 August 2018.

    Mr. Alcantara and Ms. Ward paid a courtesy call on Chargé d’ Affaires Delfin to share information on the recent activities being undertaken by Jollibee Brunei.

    The two executives discussed the positive business experiences of Jollibee in the country, having become the no. 1 fastfood chain in Brunei. Mr. Alcantara also said Jollibee’s operation in Brunei is currently the strongest among its international operations.

    Chargé d’ Affaires, a.i. Pete Raymond V. Delfin, during his meeting with Jollibee Foods Corporation Assistant Vice President and Market Head Rodel F. Alcantara, and Jollibee County Head Christina R. Ward at the Philippine Embassy in Brunei Darussalam on 10 August 2018.

    Mr. Alcantara delivered an invitation for Embassy officials to grace the opening of the 17th Jollibee store in Brunei in October 2018.

    Lees ook:

  • Shakey’s Pizza Sets Ambitious Goal: 430 New Locations Planned for 2025 Expansion

    Shakey’s Pizza Sets Ambitious Goal: 430 New Locations Planned for 2025 Expansion

    Shakey’s Pizza Asia Ventures Inc. (SPAVI) is on a sizeable growth trajectory, aiming to launch an impressive 430 new stores this year. Following the first quarter, the company reported a global total of 2,671 stores, buoyed by the addition of 52 outlets primarily under the popular Potato Corner brand.

    Since Q1 2024, SPAVI has expanded its footprint with 439 new openings, including 130 international locations, bringing its overseas branches to nearly 20% of its total network. This push means more pizza lovers can enjoy their slices far and wide!

    During the first quarter, SPAVI announced a net income after tax of PHP182 million—a tantalizing 6% increase from the previous year. Same-store sales also saw a positive uptick, growing by 2%, or an adjusted 4% considering the leap year and the early Easter holiday in 2024. The company has also rolled out its 50th anniversary campaign, which aims to attract even more customers as they celebrate this milestone.

    Looking ahead, SPAVI remains optimistic about reaching its ambitious targets for double-digit revenue and profit growth by 2025. One can almost hear the pizza ovens heating up in anticipation!

    Questions & Answers

    What is the total number of stores SPAVI plans to open this year?
    SPAVI is poised to open 430 new stores in 2024.

    How much was the net income after tax for Q1 2024?
    The company reported a net income of PHP182 million for the first quarter.

    What percentage of SPAVI’s network is made up of international branches?
    International branches now account for nearly 20% of SPAVI’s total store network.

    Lees ook:

  • Jollibee Launches Exciting New Campaign ‘Gamejoy’ to Break into the Gaming World

    Jollibee Launches Exciting New Campaign ‘Gamejoy’ to Break into the Gaming World

    Jollibee has just rolled out an exciting initiative across its stores in the Philippines, introducing Gamejoy, a campaign that lets customers score in-game credits simply by enjoying their meals. With this innovative approach, every Gamejoy Combo meal unlocks special Gamejoy Credits—Jollibee’s brand-new virtual currency.

    The Sweet Taste of Rewards

    These enticing credits can be redeemed through UniPin, a popular e-wallet platform catering to gamers, opening up a treasure trove of over 10,000 games from leading publishers like Garena, NetEase, and OurPalm. It’s not just chicken and fries; it’s your ticket to an exhilarating gaming experience!

    A Vision to Connect

    According to Dorothy Dee Ching, Jollibee’s VP and head of marketing, the objective was to create a rewards system that transcends genres and platforms—a perfect blend of food and fun. Joey David-Tiempo, CEO of Octopus & Whale, emphasized that the campaign needed to be more than a standard brand association. “This is Jollibee—a global Filipino icon,” he remarked, adding that the concept had to resonate culturally and be seamless enough for everyone, regardless of whether they’re into Call of Duty Mobile or Eggy Party.

    Game On with Every Meal

    By purchasing designated meals, customers earn in-game value, each combo paired with a unique code to unlock Gamejoy Credits. It’s a fun twist on dining out that elevates the experience beyond just a meal. Who knew your lunch could become a gaming adventure?

    Questions & Answers

    What is the purpose of the Gamejoy campaign?
    The Gamejoy campaign aims to reward customers with in-game credits for purchasing meals, allowing them to enjoy over 10,000 games through the corresponding credits.

    How do customers earn Gamejoy Credits?
    Customers earn Gamejoy Credits by purchasing Gamejoy Combos, which come with codes that unlock the credits for use in the UniPin platform.

    Why is the campaign significant for Jollibee?
    This campaign is notable as it blends the food experience with gaming, tapping into a cultural connection and creating a rewards system that appeals to a wide audience of gamers, making dining with Jollibee a more interactive experience.

    Lees ook:

    Lees ook:

    Lees ook:

  • Jollibee Hong Kong unveils new design concept

    Jollibee Hong Kong unveils new design concept

    The renowned Filipino fast-food chain, Jollibee recently revealed a revitalized restaurant concept in Hong Kong which has been developed by the London-based design studio, Shed. This reimagined design will be implemented in five new stores. It incorporates a specially chosen color scheme, combined materials, custom-built furniture, and illustrative components, all of which are influenced by Jollibee’s Filipino roots.

    A Playful Identity with a Sophisticated Touch

    Shed’s co-founder Matt Smith stated that the fresh design maintains the brand’s lively persona while infusing it with a more polished look to appeal to international markets. Smith mentioned, “Our objective was not merely to create a distinctively unique design but to ensure that the pervasive sense of joy resonates universally, expressed uniformly across all design and brand touchpoints.”

    Reimagined Mascots and Store Layout

    The redesign also reinterprets Jollibee’s mascots, merging their familiar charm with contemporary branding techniques. According to the team at Shed, the underpinning idea of their concept is to place a smile at the center of all aspects, which is reflected in every feature of the visual identity and store configuration.

    Carl Tan, chairman of Jollibee Foods China, elaborated on this, stating, “Each detail has been meticulously aligned with the original strategy, resulting in a true tribute to the spirit of Jollibee. The outcome is a setting that we’re immensely proud of – one that radiates warmth, vibrancy, and a sense of joy.”

    The first two outlets to showcase this redesign are located in the basement of the Metropole Building on Peking Rd, in Tsim Sha Tsui, and on the ground floor of the China Harbour Building, on King’s Rd, at North Point.

    Questions & Answers

    What overarching idea does the new store concept of Jollibee revolve around?
    The new store concept is hinged on the idea of “putting a smile at the heart of everything,” which impacts all facets of the visual identity and store layout.

    Who is responsible for this new design?
    London-based design studio, Shed is responsible for creating the new design for Jollibee.

    Where are the first two redesigned Jollibee outlets located?
    The first two redesigned outlets are situated in the basement of the Metropole Building, on Peking Rd, in Tsim Sha Tsui, and on the ground floor of the China Harbour Building, on King’s Rd, at North Point.

    Lees ook:

    Lees ook:

  • Lakanto launches no-sugar-added BBQ Sauce & Tomato Ketchup

    Lakanto launches no-sugar-added BBQ Sauce & Tomato Ketchup

    Monkfruit sweetener brand Lakanto Australia has launched the No Sugar Added Tomato Ketchup and BBQ Sauce, offering a healthier alternative.

    According to the company, the sauces are naturally sweetened with Lakanto’s monkfruit sweetener, feature no artificial colours or tastes, and are low in carbs, making them suitable for individuals following keto, low-carb, or diabetic diets.

    “We’re excited and really proud to offer these delicious, healthier alternatives to classic condiments,” said Leon McIndoe, GM of Lakanto Australia.

    “With our BBQ Sauce and Ketchup, we’re continuing our mission to help people ‘Live a Responsibly Sweet Life’ – making it easier to enjoy flavourful meals without compromising on their health goals.”

    The Lakanto Sweet and Spicy BBQ Sauce and Lakanto Tomato Ketchup are available with an RRP of $12.95

    Last year, Lakanto re-launched its caramel and chocolate toppings derived from monkfruit, which naturally adds sweetness.

    Lees ook:

  • McDonald’s renews 20-year franchise deal in the Philippines

    McDonald’s renews 20-year franchise deal in the Philippines

    McDonald’s has renewed its 20-year master franchise agreement in the Philippines, extending its partnership with Golden Arches Development Corporation (GADC) until 2045.

    Under the new agreement, the company retains exclusive rights to own, develop, operate and sub-franchise McDonald’s restaurants nationwide.

    GADC, led by founder and chairman George Yang, has operated the fast food giant’s Philippine business since opening the first McDonald’s store in 1981.

    The chain operates 792 stores in the Philippines, with the majority in the National Capital Region.

    Reflecting on the franchise’s early days, Yang recalled applying for the rights in the late 1970s.

    “I confidently said 10 stores,” he continued. “This year, we’ll be opening our 800th store.”

    McDonald’s Philippines has introduced several firsts to the local quick-service restaurant sector. It was the first in the country to launch an online delivery platform in 2009, followed by the McDelivery app in 2014.

    The brand was also an early adopter of third-party delivery aggregators such as Grab and Foodpanda, where it is now one of the largest merchants.

    Last year, McDelivery accounted for 19 per cent of the company’s total sales.

    Kenneth Yang, GADC president and CEO, said digital transformation has played a key role in McDonald’s growth in the market.

    “These platforms have helped scale the business and improved how we operate,” he said.

    “We are not stopping here. Our teams constantly work on new opportunities driven by evolving customer preferences and behaviours.”

    GADC is 51 percent owned by the Yang family, with the remaining 49 percent held by Alliance Global Group Inc, chaired by tycoon Andrew Tan.

    Lees ook:

  • Jollibee Foods targets 10,000 global restaurants this year

    Jollibee Foods targets 10,000 global restaurants this year

    The Philippines-headquartered restaurant group Jollibee Foods plans to have 10,000 eateries globally this year, with a focus on North America.

    The company, known for its fried chicken Jollibee chain, eyes to invest PHP18-21 billion (US$312-364 million) to open up to 800 new stores this year.

    Last year it had 9,766 outlets.

    “We’re not in all 50 states [in the U.S.]. We’re in only maybe 15 states,” Richard Shin, the company’s chief financial and risk officer, told reporters on Tuesday, as reported by Nikkei Asia.

    Jollibee launched its first U.S. location in California in 1998, and expanded its presence in the country and Canada to 103 by the end of last year. It also has 266 stores under other brands in North America.

    The company plans to use the franchising model to launch more regional stores.

    In 2024, Jollibee’s net profit rose 17.7% to PHP10.3 billion, driven by double-digit revenue growth from new stores and acquisitions. The company forecasts 8% to 12% growth in system-wide sales for 2025 – covering both company-owned and franchised locations – and targets up to 8% growth in its store network.

    Jollibee has also pursued an aggressive acquisition strategy, recently purchasing South Korea’s Compose Coffee, fully acquiring Hong Kong’s Tim Ho Wan, and adding Taiwan’s Moon Moon to its portfolio.

    It also holds stakes in China’s Yonghe King and U.S. brands Smashburger and The Coffee Bean & Tea Leaf.

    Lees ook:

    Lees ook:

  • Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee Foods Corporation (JFC) posted strong double-digit growth in 2024, with its coffee and tea brands playing a key role in driving revenue and profits.

    The company’s revenue rose 10.6 percent year-on-year (YoY) to US$4.7 billion, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 17 percent to $295 million.

    JFC’s system-wide sales (SWS) climbed 13 percent YoY to $6.8 billion, supported by a 14 percent increase in the Jollibee brand.

    The Philippine market saw an 11.4 percent rise in SWS, with same-store sales growth (SSSG) of 7.9 percent. Internationally, Jollibee recorded 22 percent growth, led by Vietnam (16.8 percent), EMEA excluding Vietnam (11.6 percent), North America (8.1 percent), and China (13.2 percent).

    “The sustained growth of our business reflects the global strength of the Jollibee brand,” said Jollibee Group CEO Ernesto Tanmantiong

    “We also made significant progress in our coffee and tea segment, particularly with the acquisition of Compose Coffee, which expanded our store network to more than 5000 locations, 78 percent of which are franchised.”

    Meanwhile, JFC’s international SWS grew 17.6 percent, primarily driven by its coffee and tea brands.

    The Coffee Bean & Tea Leaf (CBTL) saw a 16 percent increase in sales, Highlands Coffee grew by 13 percent, and Compose Coffee—acquired in August last year—contributed 7.9 percent to international growth. Meanwhile, EMEA-based Philippine brands grew by 27 percent.

    Despite overall strong results, CFO Richard Shin said the company faced challenges in its China business, which declined 8.3 percent due to economic headwinds affecting consumer spending.

    “While same-store sales growth turned positive in the fourth quarter, we still need to strengthen daily sales and profitability in this segment,” he said.

    “Our focus remains on long-term growth and creating value for shareholders.”

    Looking ahead, JFC aims to accelerate its coffee and tea expansion, with plans to open 700 to 800 new stores this year.

    Lees ook:

  • Impossible Foods launches burger blind-tasting test challenge

    Impossible Foods launches burger blind-tasting test challenge

    Impossible Foods has launched “Bloody Delicious,” a blind-tasting test to see if local foodies can tell the burger is made with plant-based Impossible alt-beef.

    According to the brand, the challenge comes after it sees Australians are rapidly turning away from red meat, with “meat reducer” appearing as the country’s most popular diet last year and a quarter reducing consumption.

    “I’ve spent years cooking with red meat and would consider myself an expert when it comes to a good burger,” said chef and TV personality, TikTok Food Creator of the Year nominee Iain ‘Huey’ Hewitson.

    “I never would have thought that a plant-based burger would make its way onto my plate, but this Impossible Burger was bloody delicious!”

    Impossible Foods also said that 27 per cent of Aussies are sceptical of the taste of plant-based meat, with 19 per cent convinced that it “wouldn’t taste like animal meat”.

    The brand is also going to team up with Mary’s at Circular Quay to give away more than 200 free Impossible Burgers on April 3.

  • Burger King parent Restaurant Brands takes full control of China business

    Burger King parent Restaurant Brands takes full control of China business

    Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about US$158 million, giving it nearly total ownership of the business.

    The fast food chain operator said it would engage its advisors to work on identifying a new local partner to invest into the business.

    The company has been working on its China strategy for its Burger King business which faced softening demand in the second biggest market, amid a pressured consumer spending and stiff competition.

    Restaurant Brands acquired the stakes in Burger King China from a holding company TFI Asia Holdings BV and a blank-check firm Pangaea Two Acquisition Holdings XXIII.

    Restaurant Brands had 1,474 Burger King restaurants in China, as of December 31, 2024.

  • Jollibee secures approval to lift foreign ownership limit

    Jollibee secures approval to lift foreign ownership limit

    F&B giant Jollibee Foods Corporation (JFC) has received approval from the Philippine Stock Exchange (PSE) to remove its 40 percent foreign ownership limit.

    The decision follows the company’s amendment request to its articles of incorporation, which also includes removing its ability to own, acquire, mortgage, pledge, or encumber land.

    Article 12 of the Philippine Constitution restricts foreign ownership of land and certain businesses to 40 per cent, with the remaining 60 per cent reserved for Filipino citizens or corporations.

    Following the change, JFC is now positioned to accommodate more foreign investors.

    AP Securities research analyst Jose Cipres said the move allows the company to raise additional capital for expansion through a sale-leaseback transaction.

    “They could use the proceeds from the sale of land to expand their current store portfolio, translating to higher earnings,” explained Cipres.

    Meanwhile, Unicapital equity research analyst Jeri Alfonso said removing the foreign ownership limit is a good catalyst for JFC.

    “Given this current market condition, this will provide a big boost to the company in terms of trading volume,” Alfonso added.

    Lees ook:

  • Domino’s Pizza China crosses 1000-store milestone, eyes 300 more this year

    Domino’s Pizza China crosses 1000-store milestone, eyes 300 more this year

    Domino’s Pizza China (DPC Dash) plans to open about 300 new locations this year after its store count reached 1000 late last year.

    The company opened its 1000th store in Chengdu in November. As of December 31, it raised its network to 1008 and became Domino’s third-largest international market by store count.

    DPC Dash recorded 240 net new stores last year, meeting its annual target as part of the “Go Deeper, Go Broader” strategy. In 2025 and 2026, the chain plans to open approximately 300 and 350 new stores, respectively.

    Store performance was also encouraging, with same-store sales growth remaining positive in the fourth quarter. This also marked the 30th consecutive quarter of positive comparables since the current management took over in 2017.

    Loyalty program members reached 24.5 million and 11.7 million new customers were recorded last year.

    In terms of product innovation, the company said it had launched a series of new dishes and will introduce several more this year.

    Looking ahead, DPC Dash said it will continue to advance its expansion plans and improve operational efficiency for sustainable development. The firm also aims to provide consumers with higher-quality products and services and create long-term value for shareholders.

    DPC Dash is Domino’s Pizza’s exclusive master franchisee in Mainland China, Hong Kong, and Macau.

    Lees ook:

  • Japanese restaurant chain Pepper Lunch to launch in Mongolia

    Japanese restaurant chain Pepper Lunch to launch in Mongolia

    Japanese restaurant chain Pepper Lunch plans to open its first store in Mongolia next year, as part of its global expansion strategy.

    The brand has signed a franchise deal with local distributor Bluemon Group, making Mongolia its 17th country.

    “We signed a master franchise agreement with our Mongolian franchise partner yesterday,” Yuto Tago, global CEO of Pepper Lunch wrote on his LinkedIn account.

    “I cannot wait to see the first restaurant opening next year!”

    Pepper Lunch is a DIY casual eating concept with more than 400 locations around Japan, Asia, and Australia. Founded by a trained chef, Kunio Ichinose, the restaurant focuses on premium steaks, pasta, and cheese curry rice.

    Pepper Food Service sold the Pepper Lunch franchise to J-Star Investment Fund for US$79 million in 2020.

    Lees ook:

  • Singapore McDonald’s faces backlash over new extra sauce charge starting 2025

    Singapore McDonald’s faces backlash over new extra sauce charge starting 2025

    Singapore McDonald’s has faced online criticism after announcing a new charge for extra sauce tubs, set to take effect on Jan. 2, 2025.

    Customers will be charged up to 70 S$cents (US$0.52) for additional sauces beyond the standard portion for certain menu items.

    “What a horrid start to 2025,” said a commenter. “Outrageous,” said another.

    McDonald’s explained on its website that the “nominal charge” is meant to manage food waste and rising food costs

    While ketchup and garlic chilli sauce will remain free, additional charges will apply to other sauces. For example, sauces for Chicken McNuggets (barbecue, curry, honey mustard), hotcakes syrup, and whipped butter pads will cost 50 S$ cents per tub. Japanese roasted sesame dressing will be priced at 70 S$ cents per packet.

    This change follows a similar policy from 2012, when McDonald’s began charging 30 S$cents for extra sauce with nugget meals.