Yum! Brands Announces Opening Of 40,000th Restaurant In India
Nov 6, 2013
Yum! Brands, the world’s leading restaurant company, announced the opening of its 40,000th restaurant, a flagship KFC store in Goa, India, to spotlight the Company’s emerging market leadership and growth.
By 2015, India is expected to have $1 billion in system sales, which includes company and franchise restaurants. By then, the restaurant company will have over 1,000 KFC, Pizza Hut and Taco Bell outlets in more than 100 cities.
Yum! Brands is the worldwide leader in emerging markets with a two-to-one advantage over the nearest competition.
The Company is also a leader in international development opening more than 5 new restaurants per day outside the U.S. with plans to open a record 1,450 new restaurants in emerging markets this year. Emerging markets represent tremendous growth potential for the Company.
“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.
“With only 2 restaurants per million people in the top 10 emerging markets, vs. 58 restaurants per million in the U.S., we are only on the ground floor of global growth. India is one of the biggest emerging market opportunities in the world and we are thrilled to celebrate our 40,000th restaurant here.”
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. It is predicted that India will have the largest consuming class in the world by 2030.
India also has a great retail environment and is the sixth largest poultry consumer market in the world. The ‘eating-out’ market is estimated to be $94 billion and only two percent is organized with national and international food retail brands.
KFC is the fastest growing quick-service restaurant brand in India, tripling in size over the last five years to 296 restaurants.
Pizza Hut has been named the number one most trusted food service brand for seven years in a row. It is currently present across 181 affordable casual dining restaurants and 132 Home Delivery locations.
About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, is the world’s leading restaurant company, with 40,000 restaurants in 130 countries and territories.
The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories.
Outside the United States, the Yum! Brands system opened over five new restaurants per day, making it a leader in international retail development.
Yum! is ranked #201 on the Fortune 500 List with revenues of over $13 billion in 2012 and in 2013 was named among the top 100 Corporate Citizens by Corporate Responsibility Magazine.
Credit: Business Wire