MANILA, Philippines - Dunkin’ Donuts, one of the world’s biggest coffee and baked goods chains, said it has made its largest development agreement in its history with the recently signed deal with a Jollibee-led joint-venture.
In a statement posted to the local bourse yesterday via listed fastfood giant Jollibee Foods Corp. (JFC), Dunkin’ Donuts said it is optimistic with its future growth in China with the long-term master franchise agreement entered with Golden Cup Pte Ltd., a joint venture between Jollibee Worldwide Pte. Ltd. and Jasmine Asset Holding Ltd.
“We are delighted to enter into this relationship with Jollibee and RRJ, a group with proven track record of success in the quick-service restaurant industry in China and a deep knowledge of the consumer,” said Nigel Travis, Dunkin’ Brands chairman and chief executive officer.
“Through this franchise development agreement, the largest in our history, we believe we can significantly expand and accelerate Dunkin’ Donuts presence in China,” Travis added.
Golden Cup bagged the exclusive rights to develop and expand Dunkin’ Donuts in China, particularly in Hong Kong, Macau, Fujian, Hunan, Jianxi, Guangdong, Hainan, Guanxi, Beijing, Tianjin, Hebei, Shangxi, Chongqing, Guizhou, Sichuan, Yunnan, Heilongjiang and Jilin.
It plans to open and operate more than 1,400 Dunkin’ Donuts shops across China over the next 20 years.
The opening of the first restaurant is expected by the fourth quarter this year.
“We are excited about the prospect of bringing Dunkin’ Donuts to China. Dunkin’ Donuts is a leading global brand in baked goods and coffee, and the China market offers a tremendous opportunity as its consumer base continues to grow in number and spending power,” said Tony Tan Caktiong, JFC chairman.