trending Market Intelligence /marketintelligence/en/news-insights/trending/wzyc_sx4maesaiirrgovtw2 content esgSubNav
In This List

Jollibee to open 100 stores in Canada in next 5 years

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Bed, Bath, and Bankruptcy: Using Quantitative Credit Models to Predict Corporate Defaults

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback

Blog

Infographic: The Big Picture 2023 Issuer & Investor Relations Outlook


Jollibee to open 100 stores in Canada in next 5 years

Filipino fast-food chain Jollibee Foods Corp. plans to open 100 stores in Canada within the next five years, CEO Ernesto Tanmantiong told CityNews Toronto on June 12.

During a store launch in the Greater Toronto area, Tanmantiong told the news program that Jollibee will open its fourth Canadian location in Mississauga. It is also looking into opening stores in downtown Toronto and in suburban areas.

Tanmantiong added that the aggressive expansion is driven by the support the fast-food chain has received in the country.

CityNews reported that all of Jollibee's outlets in Canada are corporate-owned and that the company is looking for franchise owners. A store would cost between C$1 million and C$2 million.

Jollibee reportedly also intends to launch a delivery service when it becomes more established and has enough stores.

According to a June 12 report by The Canadian Press, the Filipino fast-food chain plans to expand its presence further in Ontario and is also looking into Edmonton, Calgary and Vancouver.

Jollibee identified Canada as a key growth market after it debuted in the country in 2016. The company intends to tap into the rising global interest in Filipino food, the news agency reported.