Expertise in Building Brands. Jollibee’s 51% brand value growth is a testament to the Jollibee Group’s expertise in building brands that can be scaled across markets globally.
MANILA, Philippines. 21 February 2024. – Jollibee has been recognized as the second fastest-growing restaurant brand in the world, according to the latest annual brand ranking report by Brand Finance, the world’s leading independent brand valuation agency. Surging by an impressive 51% to USD 2.3 billion in brand value, Jollibee ascended from rank 20 to rank 17 in this year’s Global Restaurant Rankings.
The brand further solidified its position by achieving fifth place in the strongest restaurant brand category, elevating its rating from AA- to AAA. In addition, Jollibee is the only Philippine brand listed in the 2024 Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands.
“We thank our loyal customers for their love for Jollibee, allowing us to grow the brand further and reach more people in various parts of the world,” said Jollibee Group President and CEO Ernesto Tanmantiong. “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.”
Confidence in Jollibee’s Strategic Direction
Jollibee, the flagship global brand within the Jollibee Group’s extensive portfolio of 18 brands, originated in the Philippines in 1978. The brand has since grown to encompass 1,668 locations across 17 countries as of January 2024.
Richard Shin, Chief Financial Officer of Jollibee Group, expressed confidence in the brand’s strategic direction, stating, “This valuation from Brand Finance gives us confidence that we are on the right track in our strategic goals for the brand. Jollibee’s ability to resonate with consumers across diverse markets and cultures opens opportunities for further expansion and growth, enhancing the potential for better shareholder value to investors and franchisees.”
Global Appeal. Jollibee continues to captivate global audiences with its great-tasting products at affordable fare, supported by a cohesive restaurant system that positions the brand for success across markets.
Jollibee’s Growth Momentum
Brand Finance’s latest report attributes Jollibee’s remarkable financial performance and sustained momentum to its robust expansion initiatives, particularly in international markets. Emphasizing a diverse menu of exceptionally tasty, high-quality, and affordable fare, the brand continues to captivate global audiences.
The Chief Marketing Officer of Jollibee Group, David Beal, emphasized, “Jollibee’s impressive brand value growth is a testament to the Jollibee Group’s expertise in building brands that are craved globally. Our growth is underpinned by delicious offerings, a compelling brand proposition, and a cohesive restaurant system that positions us for success across markets.”
To sustain its growth momentum, Jollibee remains steadfast in expanding its store network in key markets such as the United States and the Europe, Middle East, Asia, and Australia (EMEAA) region, while sustaining market leadership in the Philippines.
Sustained Growth. Jollibee is now present in 17 countries with 1,668 store locations – and counting. The recent milestone opening in Canada is the brand’s 100th store in North America and is part of the Jollibee Group’s aggressive growth plans for 2024.
Strong Brand Love for Jollibee
The brand has recently marked a significant milestone by inaugurating its 100th store in North America, with the first customer lining up for 20 hours before the store opening.
The same passionate demonstration of brand love has been consistent across store openings in new markets, with massive crowds queuing for long hours—some camping out the night before or braving freezing temperatures—to be the first to taste Jollibee’s signature crispy and juicy fried chicken called Jolly Crispy Chicken in North America and Chickenjoy in the Philippines and other markets. This bestselling product has been voted a fan favorite across markets in Asia, Europe, and North America.
Other bestsellers that turn customers into loyal fans of Jollibee include the Chicken Sandwich, a crispy, juicy chicken breast fillet with umami mayo in a toasted brioche bun; and the Peach Mango Pie, made with peaches and Philippine mangoes tucked in a warm, light, and crispy crust.
Brand Love Across Geographies and Generations. The support of loyal customers across generations and locations has solidified Jollibee’s position as a well-loved global restaurant brand.