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Philippine Billionaire Tony Tan Caktiong’s Jollibee Spending Record $366 Million For Global Expansion [Forbes]

Farmer Brothers Company (FARM) 
Last farmer brothers company earnings: 2/6 04:05 pm Check Earnings Report
Company Research Source: Forbes
SOPA Images/LightRocket via Getty Images —controlled by billionaire —is spending up to 21 billion pesos ($366 million) this year to bring its global footprint to over 10,000 stores. The largest Philippine fast food chain will open up to 800 new stores this year with its coffee segment a key expansion driver, Richard Shin, chief financial officer of Jollibee, said in an email response to Forbes Asia's queries. “Our expansion strategy remains anchored in our strategic framework, focusing on growing the coffee and tea segments,” Shin said. The Coffee Bean & Tea Leaf will lead the coffee segment's global expansion, while Compose Coffee, which was , will continue strengthening its presence in South Korea for now, he said. PROMOTED About 500 of the new stores will be opened outside of the Philippines, Shin said. Jollibee had 9,766 stores at the end of 2024, with 6,384 located overseas including 2,629 outlets of South Korea's Compose Coffee. “We see strong potential for expansio Show less Read more
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