JFC says Tiong Bahru Bakery, Common Man Coffee Roasters won't compete with CBTL

MANILA -- Jollibee Foods Corp said on Tuesday its new bakery and coffee ventures won't compete with its own brands. 

In an earlier disclosure to the Philippine Stock Exchange, the country's largest restaurant operator said it formed a joint venture with Food Collective Pte Ltd (FCPL) to bring Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippines. 

The Jollibee Group owns Coffee Bean and Tea Leaf (CBTL). It also has an interest in Vietnamese brand Highlands Coffee.

During its second quarter earnings briefing, JFC Chief Financial Officer Richard Shin said they don't see the recent investments cannibalizing the coffee market since the kinds of coffee and food products that will be served in these new stores would be quite different from what you would see in CBTL.

Tiong Bahru Bakery is famous for its hand-made croissants while Common Man Coffee Roasters is known for its specialty coffee.

"Common Man will be a different expression of coffee in that it’s closer to a more premium barista coffee," Shin said. "That’s what it’s famous for and therefore it will not be competing with Highland Coffee or CBTL, but in fact, it’s a new segment," he explained. 

Shin also confirmed the two Asian brands would be coming to the country "soon." He said the joint venture has been set up, the funding is ready, a location has been chosen, and they have a management and staffing plan for the bakery and coffee shop.

But unlike JFC’s other coffee brands, Shin said they’ll be keeping the number of branches for Tiong Bahru Bakery and Common Man small to reflect the boutique style the brands are known for in Singapore and Malaysia where there are less than 20 outlets.