Jollibee’s Coffee Bean & Tea Leaf opens first Maldives store

Homegrown food chain Jollibee Group on Tuesday announced the expansion of its global network with the opening of its first Coffee Bean & Tea Leaf (CBTL) store in the Maldives, as the company targets to become one of the top specialty coffee and tea chains across the globe.

According to the Jollibee Group, the CBTL store in Maldives—located along the beachfront of Hulhumalé’s Central Park, is operated by franchise Waterscape Investments Pvt. Ltd., which has committed to growing the brand in the market.

“This is a significant milestone for us, and we are confident that together, we will create a unique and welcoming space where the people of the Maldives can enjoy our handcrafted beverages and experience the authentic flavors we’ve perfected over decades,” CBTL chief executive officer Pepot Miñana said in a statement.

The latest branch adds to CBTL’s over 1,200 locations across over 20 countries, with partnerships with family-owned estates across Sri Lanka, China, Thailand, and Japan.

Aside from CBTL, the Jollibee Group’s brands include Jollibee, Chowking, Greenwich, Red Ribbon, Yong He King, Hong Zhuang Yuan, Mang Inasal, Burger King, Highlands Coffee, Smashburger, Tim Ho Wan, Tortazo, Panda Express, Yoshinoya, Milksha, and Common Man Coffee Roasters.

The group ended the second quarter of the year with a P3.211-billion attributable net income, up by 5.6% from the same period last year. Its net income rose by 7.2% to P3.416 billion.

Shares in the company were last traded at P219.80 apiece, up by P1.40 or 0.64% from Monday’s finish of P218.40 per share. — BM, GMA Integrated News