Today May 16, 2012 in its disclosure to the Philippine Stocks Exchange, Jollibee Foods Corporation announced that its subsidiary Golden Plate Ltd. have partnered with Singapore’s Beeworks Inc. to put-up a company in Singapore that will manage and operate Jollibee stores there.
The partnership will entail a 60-40 percent sharing with Golden Plate constituting the former and Beeworks for the latter with initial funding $1 million.
Currently, Jollibee stores are available in 7 countries outside of the Phillipines. There are 26 Jollibee stores in the U.S., 32 in Vietnam, 11 in Brunei, 7 in Jeddah, Saudi Arabia, 1 in Hong Kong, 1 in Qatar and another 1 in Kuwait.
Jollibee or Jollibean
With Jollibee’s entry to Singapore, should Singapore’s Jollibean be threatened?
Jollibean is a Singapore based fastfood chain offering wide range of soy products. Although they have different set of meals compared to Jollibee, it cannot be denied that they’re namesakes. Considering the fact also of the similar fonts on their logo which only differs in color. With their packaging, Jollibean seemd to cater to the young market which is also the main target of Jollibee.
Now that Jollibee is coming to Singapore, it will be nice to watch-out which of this Jolli stores will draw attention to customers.