Jollibee brings Tiong Bahru Bakery to PH
Jollibee Foods Corp. (JFC) has begun its foray into the handmade pastries category with the entry of Singapore-based Tiong Bahru Bakery in the Philippines.
The homegrown fast-food giant known for the popular Chickenjoy meals inaugurated the country’s first Tiong Bahru branch earlier this week at Verve Residences Tower 2 at Bonifacio Global City in Taguig.
This also represents the bakery brand’s first international location.
“Introducing Tiong Bahru Bakery to the Philippine market aligns with our commitment to providing Filipinos with exciting, world-class dining experiences,” Ernesto Tanmantiong, Jollibee Group global president and CEO, said in a statement on Wednesday.
Tiong Bahru, known for its croissants, Pain Au Chocolat and Kouign Amann, currently has 21 branches in Singapore.
In the Philippines, Tiong Bahru will also serve coffee from beans produced by Common Man Coffee Roasters.
In 2023, JFC and Food Collective Pte. Ltd. (FCPL) established a joint venture company to own and operate both Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.
Under the deal, JFC owns 60 percent of the joint venture, while FCPL owns the remaining 40 percent.
Both companies pledged to invest up to P250 million into the joint venture company in order for it to have its own resources and personnel.
In the first nine months of 2024, JFC’s earnings surged by 24.1 percent to P8.47 billion on the back of gains from Compose Coffee and the Philippine market.
The group’s top line expanded by 10.6 percent to P196.25 billion.
