MANILA – Jollibee Foods Corp said it was eyeing to open some 700 to 800 new stores globally this year, across brands and markets, as part of its expansion plan.

During a virtual media briefing, Jollibee Group’s Global Chief Financial Officer Richard Shin said the company would allot a capital expenditure of P18 to P21 billion in 2025. 

Shin said there was “room for growth” in North America, where the Jollibee brand is focused on growing its network.

The group, which is also among Asia’s fastest growing restaurant operator, said it had “very ambitious plans” for Jollibee.

“It's Jollibee, Jollibee, Jollibee all day long. We're in markets in North America, technically were there but we're not there. We're not in all 50 states, we're maybe in 15 states... So you can imagine the room for growth for brands like Jollibee which consistently gets voted by consumers two years in a row in 2023 and 2024 as best fried chicken,” Shin said.

South Korea’s Compose Coffee, which JFC acquired in 2024, is also aggressively expanding, he said.

“We're building 30 stores a month just in South Korea and that is because franchisees are coming in to take this brand on,” he said.

Jollibee formally buys Korea's Compose Coffee

JFC operates several coffee brands, including Coffee Bean and Tea Leaf (CBTL). 

Smashburger meanwhile is growing its stores in non-traditional channels such as airport and military bases, he said.

For Tim Ho Wan, Shin said the group is focused on building the brand in Hong Kong and other markets before pursuing “rapid store expansion.”

In 2024, JFC reported a net income of P10.8 billion, with revenues at P269.9 billion and system wide sales at P390.3 billion. Shin said the company aims to triple its net income attributable to parent by 2028. 

JFC plans to raise funds through the issuance of dollar bonds.

As of December 2024, the Jollibee Group operates a store network composed of 9,766 outlets, with 3,382 in the Philippines and 6,384 abroad.