JOLLIBEE GROUP CHIEF FINANCIAL AND RISK OFFICER: ‘WE’RE GEARING UP FOR SUSTAINABLE GROWTH IN THE NEXT FIVE YEARS’

The Jollibee Group is optimistic to see a growth trajectory in the next five years, as it continues to penetrate “big markets,” according to its Chief Financial and Risk Officer Richard Chong Woo Shin.

During the recently held Indo-Pacific Business Forum (IPBF) in Manila—co-hosted by the Governments of the United States and the Philippines—Shin said, “We look at five years forward and we do see significant opportunities of course coupled with challenges, like inflation and interest rates. But if you take a step back and you look at this part of the world, we have some of the fastest growing economies on relative terms if you want to use GDP (Gross Domestic Product) as a measure.”

IPBF is the premier U.S. government commercial diplomacy event in the region, connecting CEOs, project developers, government officials, and sources of financing for priority infrastructure in emerging Indo-Pacific economies. 

The Jollibee Group, the only Philippine-based company that was invited in the panel, has set a 5-year strategic plan that includes expanding its flagship brand Jollibee internationally, growing its coffee and tea segment, winning in the Chinese QSR category in China, and sustaining its market leadership in the Philippines.

“There’s a lot of optimism about our ability to be able to compete because on a consumer level basis, we are seeing some significant trends happening,” Shin said. “This includes a young population and a world no longer as large as it used to be because of technology.”

“You cannot be in the food and beverage service industry without understanding the role of digital and technology. This ties back to convenience, but also beyond that,” he added.

Shin also emphasized the Company’s sustainability commitment: “We’re finding more and more the importance of consumers wanting to know their source of food: Where is it coming from? How’s it being treated? What types of vendors are corporates working with? So that’s an important part of the trend that we’re seeing.”

In 2023, the Jollibee Group launched its Global Sustainability Agenda, aptly named Joy for Tomorrow. With pillars in Food, People, and Planet, Joy for Tomorrow allows the Company to carve out space for growth while integrating sustainable practices into its business operations.

Shin also expressed Jollibee Group’s interest in further expanding their brands abroad, specifically in strengthening its presence in the US and for upcoming franchises. “What we find in our business is to really be able to play that challenger role and go to big markets such as the US,” he said.

The Jollibee Group—one of the fastest-growing restaurant companies in the world—currently has 18 brands with over 6,900 stores across 33 countries. Recently, the Company has signed definitive agreements such that its wholly owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL) shall acquire majority shareholding of effectively 70% in “Compose Coffee Co., Ltd.” and “JMCF Co. Ltd.” collectively called “Compose Coffee.”

As it sustains its aggressive global expansion, its mission remains: to serve great-tasting food and bring the joy of eating to everyone.