Jollibee Ranks as Second Fastest-Growing Restaurant Brand in the World
Ranked as one of the 25 most valuable and 10 strongest restaurant brands
Jollibee, a fast-food chain based in the Philippines, has been recognised as the world's second-fastest-growing restaurant brand in the latest annual brand ranking report by Brand Finance. Jollibee's brand value has surged by an impressive 51%, reaching USD 2.3 billion. Consequently, Jollibee has climbed from rank 20 to 17 in this year's Global Restaurant Rankings.
The Group's growth is evident from its 51% brand value growth, which has enabled the brand to expand globally. The brand has also solidified its position by climbing the ranks to fifth place in the strongest restaurant brand category, with an improved rating of AAA.
It is the only Philippine brand in the Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands for 2024.
"We are grateful to our loyal customers for their unwavering support, which has enabled us to expand Jollibee's reach and establish its presence in various corners of the world," said Ernesto Tanmantiong, Jollibee Group's President and CEO. "Being recognised as the world's second-fastest-growing brand affirms the tireless efforts of all the leaders and teams of Jollibee who have worked relentlessly to uphold the brand's mission and cater to the ever-growing needs of our customers. We thank them for their ongoing commitment and dedication to the brand."
As a flagship brand within the Jollibee Group's extensive portfolio of 18 brands, originating in the Philippines in 1978, the Jollibee fast food chain has grown to encompass 1,668 locations across 17 countries as of January 2024.
Jollibee Group's CFO, Richard Shin, expressed his confidence in the brand's strategic direction. He cited recent brand valuation as reassuring evidence that Jollibee is on track to achieve its goals. Shin noted that Jollibee has successfully connected with consumers from diverse markets and cultures, leading to exciting opportunities for expansion and growth. He added that this success also promises increased shareholder value for investors and franchisees.
Jollibee's great-tasting products at affordable prices, supported by a cohesive restaurant system, continue to captivate global audiences and position the brand for success across markets.
The company's most recent finance report credits Jollibee's impressive financial performance and consistent growth to its robust expansion strategies, particularly in global markets. The brand continues to attract customers worldwide by offering a varied menu of exceptionally delicious, high-quality, and affordable food.
It is expanding its stores in key markets such as the US and EMEA region while maintaining market leadership in the Philippines to sustain growth momentum.
It has recently achieved a milestone by opening its 100th store in North America, part of its ambitious growth plans for 2024.
Customers have shown immense love and loyalty to the brand, as seen by the long queues and camping outside stores during new market openings. They eagerly wait to taste Jollibee's signature fried chicken, Jolly Crispy Chicken, in North America and Chickenjoy in other markets, which has been voted a fan favourite across Asia, Europe, and North America.
Other popular products that customers love are the Chicken Sandwich, which is a crispy, juicy chicken breast fillet with umami mayo in a toasted brioche bun, and the Peach Mango Pie, which is made with peaches and Philippine mangoes wrapped in a warm, light, and crispy crust.
Jollibee is a globally known restaurant chain, thanks to customers' loyalty across generations and locations.