Growing Iconic and Well-Loved Brands. Jollibee Group’s expertise in growing and scaling iconic and well-loved brands is made more evident by the inclusion of Jollibee, Mang Inasal, and Chowking among the Top 30 Most Valuable Brands in the Philippines.
MANILA,
Philippines. 29 May 2024 – Three brands of the Jollibee Group – Jollibee,
Mang Inasal, and Chowking – have been named among the Top 30 Most Valuable
Brands in the Philippines by Brand Finance, a leading global independent brand
valuation company.
Jollibee has been ranked second, while Mang Inasal and Chowking have
been ranked 15th and 22nd respectively. Only these three restaurant
brands have been included in the rankings that include mostly banking and
technology brands.
“These impressive valuations can be attributed to our ability in developing
and scaling iconic brands consistently by providing delicious products and menu
innovations, effective restaurant and franchise system, and compelling consumer
propositions brought to life through insightful marketing and relevant promotions,”
said Jollibee Group President and Chief Executive Officer Ernesto Tanmantiong.
“Behind these efforts is the determination and hard work of the people and
partners of the Jollibee Group, who have built and supported the brands that
our customers can truly love and can all be proud of. They are the driving
force of our growth today and in the future, as we continue to spread the joy
of eating to everyone,” Tanmantiong added.
Brand Finance Rankings
The ranking on Most Valuable Brands refer to brand valuation, which is
the future cash flow potential of the brand. This is also called the brand
licensor's value, based on the brand's strength and future revenue forecasts in
the markets where it operates. It is the financial value of the brand as a
business asset.
With its brand value up 51% to USD2.3 billion, Jollibee, the highest
valued restaurant brand in the Philippines, further moved up to rank 2 in this
year’s list from rank 4 of last year. Jollibee was also ranked fifth in the
2024 Top 10 Strongest Filipino Brands, with a brand strength rating improvement
from AA- to AAA. Its Brand Strength Index (BSI) score also increased by an
impressive 19.3 points to 84.6 of 100.
The ranking on Strongest Brands refers to brand strength, also referred
to as brand equity, which is a measure of the brand's competitive standing in
the markets where it operates based on familiarity, appeal, and potential.
According to Brand Finance, Jollibee achieved perfect scores in metrics
on familiarity and recommendation, underscoring its exceptional brand
recognition and consumer loyalty.
In a separate listing covering restaurant brands across the globe, Brand
Finance has assessed Jollibee as the Top 2 fastest growing restaurant brand in
the world, outperforming international giants like McDonald’s and
Starbucks.
Strongest brand, largest brand value growth
Meanwhile, Mang Inasal was named as the strongest Filipino brand this
year. The restaurant brand recorded a BSI score of 86.3 points out of a hundred,
with a corresponding brand strength rating of AAA. Brand Finance noted that
Mang Inasal’s impressive performance was driven by brand familiarity, as well
as its expanded store network in the country.
Furthermore, Mang Inasal and Chowking were among the Philippine brands
with largest brand value growth. Mang Inasal’s brand value is up 201% to USD374
million, while Chowking’s brand value is up 56% to USD252 million.
Chowking recorded a BSI score of 75.6 points out of a hundred and a
brand strength rating of AA+. The brand achieved almost perfect scores in
metrics on familiarity and consideration.
Jollibee Group’s iconic brands
Apart from these positive valuations, brands under the Jollibee Group have
been recognized multiple times across different geographies. The Company’s global
brands Jollibee and The Coffee Bean & Tea Leaf ® have been recently listed
among the top 10 brands in Kuwait for customer satisfaction, with CBTL cited as
the top brand in the café category. Another coffee brand under its portfolio,
Highlands Coffee, has recently been recognized as the top food and beverage
brand for customer experience in Vietnam.
In Newsweek’s list of America’s Favorite Restaurant Chains for 2023, the
Jollibee Group brands Jollibee, Chowking, Smashburger, and CBTL were all
included in their respective categories. In 2022, Jollibee was also cited as Most
Favorite Fast-food Restaurant in Hong Kong and among the Hottest Brands in America.
 |
Jollibee as a cultural icon. Jollibee Philippines President Fernando Yu Jr. shared how Jollibee has become a cultural icon in the Philippines and the significant role that Filipino culture plays in Jollibee's global expansion. “It's not just about the food; it's about the experience we offer—a taste of Filipino life and values with every meal. Wherever you find a Jollibee around the world, you'll find a connection to our heritage, fostering a deeper appreciation for our culture while driving our ambition to stand among the top global restaurant companies,” he said. |
About Jollibee Group
Jollibee
Foods Corporation (JFC, also known as Jollibee Group) is one of the
fastest-growing restaurant companies in the world. Its mission is to serve
great-tasting food and bring the joy of eating to everyone through its 18
brands with over 6,800 stores across 33 countries.
The Jollibee Group has
eight wholly owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang
Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger); four franchised brands
(Burger King, Panda Express, and Yoshinoya in the Philippines, and Tim Ho Wan
in certain territories in China); 80% ownership of The Coffee Bean and Tea
Leaf; 60% ownership in the SuperFoods Group that owns Highlands Coffee; and 51% ownership of Milksha, a popular
Taiwanese bubble tea brand. JFC also has a business venture with
award-winning Chef Rick Bayless for Tortazo, a Mexican fast-casual restaurant
business in the United States.
The Jollibee Group,
through its subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) owns 92%
participating interest in Titan Dining LP, a private equity fund that owns the
Tim Ho Wan brand. The Jollibee Group has a joint venture with the THW Group to
open and operate THW restaurants in Mainland China. The Company also
established a joint venture company that will own and operate Tiong Bahru
Bakery and Common Man Coffee Roasters in the Philippines. Recently, the
Jollibee Group signed agreements to own 10% ownership in Botrista,
a leader in the beverage technology space.
The Company also owns a 90% participating
interest in Titan Dining Partners II Ltd to further grow Asia Pacific food
service brands and/or bring strong global food service brands to Asia Pacific.
The
Jollibee Group has launched its global sustainability agenda dubbed Joy for
Tomorrow, which aims to strengthen the Company’s commitment to sustainable
business practices. The agenda centers on the key pillars of Food, People, and
Planet, and consists of 10 focus areas namely: food safety, food quality,
nutrition & transparency, employee welfare, farmers livelihood, community
support, good governance, packaging & recycling, waste reduction, and
energy & water efficiency. Each focus area sets goals and initiatives that
contribute and align with the United Nations Sustainable Development Goals (UN
SDGs).
The
Jollibee Group was named the Philippines' Most Admired Company by the Asian
Wall Street Journal for ten years. It was also honored as one of Asia's Fab 50
Companies and among the World's Best Employers and World’s Top Female-Friendly
Companies by Forbes. The Company is also a three-time recipient of Gallup’s
Exceptional Workplace Award and was recently cited in TIME’s List of the
World’s Best Companies.
To learn more about Jollibee Group, visit www.jollibeegroup.com
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