Jollibee has been named the second fastest-growing restaurant in the world by a global brand valuation consultancy.
A long line of people and cars flocked to the opening of Jollibee’s first location in Michigan state. Handout
Jollibee has been named the second fastest-growing restaurant in the world by a global brand valuation consultancy.
Brand Finance, the world's leading brand strategy consultancy, said Jollibee's brand value soared by 51 percent to $2.3 billion, jumping from rank 20 to rank 17 in their 2024 Global Restaurant Rankings.
Jollibee also placed 5th in the strongest restaurant brand category, raising its rating from AA- to AAA. Jollibee is the only Philippine brand in the list of Top 10 Strongest Restaurant Brands in 2024.
The world's fastest-growing restaurant brand is the Chinese restaurant chain Luckin Coffee.
Jollibee Group President and CEO Ernesto Tanmantiong thanked their customers for loving Jollibee.
“Being ranked as the second fastest growing brand in the world validates the effective work of all the leaders and teams of Jollibee—past and present—whose commitment to the brand and its customers has helped drive the brand’s sustained growth over the years," he said.
Brand Finance said Jollibee's strong financial performance is because of its robust international expansion.
LOOK: Jollibee opens first store in Michigan
Jollibee Q2 net income down but sales surge
Jollibee was founded in the Philippines in 1978. The group now has 19 restaurants in its portfolio and has 1,668 stores across 17 countries as of January.
Jollibee CEO Tanmantiong is MAP Person of the Year 2023
6 Philippine firms make it to TIME's list of World's Best Companies
Jollibee recently opened Common Man Coffee Roasters in the Ayala Triangle Gardens in Makati City.
The Jollibee Group is also set to bring Tiong Bahru Bakery to the Philippines. The bakery is known for its croissants, coffee, and other baked goods produced using traditional techniques.
JFC, meanwhile, operates 3 foreign franchised brands in the Philippines which are Burger King, Panda Express and Yoshinoya.
The Jollibee Group owns Coffee Bean and Tea Leaf, and has an interest in Vietnamese brand Highlands Coffee.
JFC also has wholly owned brands including Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King and Hong Zhuang Yuan.
JFC says Tiong Bahru Bakery, Common Man Coffee Roasters won't compete with CBTL
Jollibee eyes 600 new stores globally, growth in China and US
