FILIPINO BILLIONAIRE TONY TAN MAKING JOLLIBEE FOOD CORP INTO A GLOBAL PLAYER

Tony Tan Caktiong grew up with his siblings helping his parents run a restaurant business. His interest in the food business began then. In 1975 at the age of 22 and a young engineering graduate, Tony and his wife Grace decided to venture into an ice cream parlour business in Cubao, Philippines. They realised that Filipinos or Pinoys like to eat something hot before ice-cream so the couple decided to start serving hamburgers, fried chicken and spaghetti in their shop. It was a hit and stores multiplied.

5 years later the JOLLIBEE mascot was launched. Branding was vital for expansion. When Mcdonald's arrived in the Philippines in 1981, Tony's friends told him to sell out when the going was good. He refused. He was going to face giants in the industry.

McDonald's has to reckon with Jollibee today on the same turf. Pinoys like their local taste burgers etc and Jollibee met that need.

Overseas expansion began in 1995. Besides Jollibee, Tony Tan has brought under his Jollibee Foods Corporation (JFC) more than 15 food chain brands and cumulatively has over 5,800 stores worldwide. His vision is to make JFC a truly global food company.n 2019 he acquired California based The Coffee Bean and Tea Leaf brand worldwide for USD 350 million. Jollibee also holds a major stake in the Burger King Philippines franchise. JFC is becoming one of the world's top 5 restaurant companies.

Tony still travels widely to sample food n see what he can add to JFC's portfolio. His brother, Ernest Tan, runs the JFC business. Grace is President of the Jollibee Group Foundation to help feed the poor in the Philippines.

ACKNOWLEDGEMENTS

1. Jollibee Foods Corporation. 29 July 2021. Jollibee West Malaysia Joint Venture Agreement Signing.  https://jollibeegroup.com/news/jollibee-to-enter-west-malaysia/#:~:text=Chong%20is%20a%20franchisee%20for,luxury%20beauty%20and%20lifestyle%20brands.
2. Nikkei Asia. 22 August 2018. Cliff Venzon. https://asia.nikkei.com/Spotlight/The-Big-Story/How-Jollibee-s-founder-is-building-a-fast-food-empire
3. Primer. 7 March 2017. https://primer.com.ph/business/success-story-tony-tan-caktiong-of-jollibee-group/
4. The Independent. 28 July 2019. Miren Gonzalez. https://theindependent.sg/jollibee-a-timeline-of-success-from-local-filipino-eatery-to-acquiring-the-world/
5. Esquire. 6 Nov 2020. Anri Ichimura. https://www.esquiremag.ph/money/movers/ernesto-tanmantiong-entrepreneur-of-the-year-a00304-20201126