Jollibee, Mang Inasal, and Chowking Dominate ASEAN 500 2024
The Jollibee Group has reaffirmed its leadership in the restaurant industry, with its flagship brands Jollibee, Mang Inasal, and Chowking claiming the top three positions as the most valuable restaurant brands in Brand Finance’s ASEAN 500 2024 report. This accomplishment highlights the group’s dedication to quality, innovation, and sustainable growth, strengthening its standing as a prominent leader in ASEAN and beyond.
Brand Finance: A Global Authority on Brand Valuation
Brand Finance, the world’s leading brand valuation consultancy, conducts over 6,000 brand valuations annually, supported by extensive market research. Its ASEAN 500 2024 report highlights the significant role of the food, retail, hospitality, and tourism sectors in driving regional economic growth. These industries are thriving due to increased post-pandemic consumer spending and advancements in digital innovation.
Jollibee: ASEAN’s Most Valuable Restaurant Brand
Jollibee, the flagship brand of the Jollibee Group, has achieved significant success, with its brand value rising by 51% to reach USD 2.3 billion. This accomplishment establishes Jollibee as the most valuable restaurant brand in ASEAN and secures its 23rd position among the region’s most valuable brands across all sectors.
Jollibee’s growth stems from its focus on customers, ongoing product development, global expansion, strategic alliances, and commitment to sustainability. These efforts have positioned Jollibee as the second fastest-growing restaurant brand globally, surpassing several international competitors.
Mang Inasal: ASEAN’s Fastest-Growing Brand
Mang Inasal, renowned for its signature chicken inasal, has been named ASEAN’s fastest-growing brand for 2024. With an astounding 201% increase in brand value, reaching USD 374 million, Mang Inasal climbed 136 spots to secure the 146th position in the ASEAN 500 rankings. It is now the second most valuable restaurant brand in the region, trailing only its sister brand, Jollibee.
Brand Finance’s research highlights Mang Inasal’s exceptional performance in key metrics such as familiarity and recommendation, reflecting its strong consumer recognition and loyalty. Earlier this year, Mang Inasal was also recognized as the strongest brand in the Philippines, further cementing its reputation as a beloved Filipino casual dining brand.
Chowking: A Rising Star in ASEAN
Chowking, a fusion brand under the Jollibee Group known for blending Filipino and Chinese cuisines, has shown remarkable progress. Its brand value rose by 56%, reaching USD 252 million. The brand also achieved a Brand Strength Index (BSI) score of 75.6 out of 100, earning an AA+ brand strength rating.
Chowking’s high familiarity and consideration scores have elevated it to the position of the third most valuable restaurant brand in ASEAN and the 22nd most valuable brand in the Philippines. These achievements reflect its strong connection with consumers and its commitment to delivering quality dining experiences.
A Testament to ASEAN’s Resilience and Growth
Alex Haigh, Managing Director of Brand Finance Asia Pacific, highlighted the importance of strategic alignment and shared resources in fostering customer loyalty and achieving sustainable growth. He remarked, “Brands like Mang Inasal and Jollibee are leaders in their field, showcasing ASEAN’s strength in adaptation and growth. These brands collectively reinforce the region’s resilience and progress.”
The Jollibee Group’s performance in the ASEAN 500 2024 rankings reflects its focus on providing exceptional experiences, driving innovation, and staying connected with its customers. As these brands grow and expand, they not only solidify their market positions but also play a role in advancing the economic development of the ASEAN region.
