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Tony Tan Caktiong is the founder and current chairman of Philippine fastfood chain Jollibee. A graduate of Sto.Tomas University with a degree of Chemical Engineering, he initially planned a Magnolia ice cream parlor at Cubao in 1975 with Jolibe as the original business name. With the guidance of his consultant Manuel C. Lumba, they shifted their focus from ice cream to hamburgers and added more into their menu to include french fires and fried chicken. The strateg proved to be a very profitable one and they then made the move into a full-service, fast food operation with drive thrus. The business name was finally restructured into the now famous Jollibee and the mascot subsequently conceptualized to capture the attention of kids. Caktiong's company Jollibee Foods Corporation (JFC) has since been one of the Philippine industry giants and Jollibee the food chain, one of the most succesful and profitable franchise with 1414 stores in the Philippines and 175 in other countries. The company acquired 80 percent of Greenwich Pizza. In 2000 JFC acquired Chowking and in 2005,the Red Ribbon Bakeshop, both popular fast-food restaurants in the Philippines. In 2006 Caktiong's JFC purchased the Delifrance franchise to capitalize on a growing segment of the Philippine market, the French cafe-bakery. In Sept of 2006, Jollibee acquired the remaining 50% stake of Delifrance Asia Ltd. in Baker Fresh Foods Phils. Inc (BFFPI) subsequently owning the exclusive rights to operate Delifrance outlets in the country. Together with its Philippine brands, the company also owns several restaurant chains in mainland China and Taiwan. Tony Tan Caktiong's company is now venturing into the Philippine carinderia business and launched "Tio Pepe's Karinderia" in Edsa Central in Madaluyong.
Entrepreneur Of The Year Philippines, 2004
http://en.wikipedia.org/wiki/Tony_Tan_Caktiong
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Photo: yonghe.com.cn
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