Yonghe King has announced that the company will enter the Tianjin market.
Chen Jinfa, CEO of Yonghe King, says that the company plans to open about 30 restaurants in Tianjin in the next five years.
Founded in 1995 in Shanghai, Yonghe King has become a famous Chinese fast food chain brand. Its three classic products are soybean milk, fried bread sticks and beef noodles. In 2007, Yonghe King was wholly acquired by Jollibee Foods Corporation, a Philippine fast food giant, and became one of the seven brands of Jollibee, which has a 65% share of the Philippine fast food market with about 1,000 restaurants in the Philippines.
Yonghe King has restaurants in 14 cities in China. There are more than 20 Yonghe King restaurants in each of Beijing, Shanghai, and Shenzhen. However, its development in other cities is not going so well. Therefore, in the next five years, Yonghe King will focus on its development in 16 key provinces, cities and regions and it plans to increase the number of restaurants in the group from 100 to 500.