Yum! Brands’ KFC is set to become the second multinational fast food chain to enter Myanmar.
Yum! has signed an agreement with local franchise partner Yoma Strategic to open fried chicken restaurants in the rapidly opening-up nation. The first outlet will open in downtown Yangon soon.
KFC will follow South Korean burger chain Lotteria into Myanmar. That chain, owned by Lotte Group, has opened seven restaurants since it arrived there in 2013. It has also successfully established first mover advantage in other Southeast Asian markets including Vietnam.
No date has been released for the opening of the first KFC outlet, but Yoma Strategic said in a statement it will be the “first major American quick service restaurant to establish a foothold in Myanmar”.
Up to four KFC restaurants will open in Yangon by the end of the year before the company looks at other cities, such as Mandalay.
Laos is now the last remaining Southeast Asian market KFC has yet to enter.
Source: insideretail.asia