Yum! Brands opens 40000th outlet
Plans to invest $10 bn by 2020October 23, 2013 | comments ( 0 ) |
Yum! Brands the world’s leading restaurant company, announced the opening of its 40,000th restaurant, a flagship KFC store in Goa, India. The new flagship KFC store is located in Goa, which is in India’s western coastal region. The store is based on a theme of ‘Soul, Spirit and Heart.’ It takes inspiration from the core brand essence wherein SOUL, stands for KFC’s commitment of great taste and quality reinstating its promise of Always Prepared Fresh, World Famous Secret Recipe, Great Tasting Non-Veg and 100% Vegetarian Products; SPIRIT is all about the pleasure of sharing with friends and family and having a great time-out; and lastly, HEART reiterates its belief of giving back to the community in which it operates. Spread across 4100 sq. feet, the store can serve over 130 people.
“Together with our growth-ready franchise partners, Yum! Brands plans to invest $10 Billion and have more than 20,000 restaurants in emerging markets by 2020”, said David Novak, Chairman and CEO, Yum! Brands. “
India is a key emerging market for Yum! Brands. It has a rapidly growing middle class and a huge, youthful population of more than 1.2 Billion people with 65-percent under the age of 35. The ‘eating-out’ market is estimated to be $94 Billion and only two percent is organized with national and international food retail brands.
Niren Chaudhary, President, Yum! Restaurants India said, “We maintain a positive outlook on the Indian market and look forward to reaching the 1,000th restaurant milestone by 2015.”
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