KFC Myanmar to open 70 more stores
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KFC Myanmar plans to expand into new territories as locals embrace the fast-food concept.
Two recent openings in Monywa and Pyay have brought the number of KFC outlets in Myanmar to 26 across six regions, only eight of which are outside Yangon. The local franchisee, Singapore-listed Yoma Strategic, has indicated plans to open 70 stores throughout the country by its 2023–2024 financial year.
Yoma CEO Melvyn Pun said KFC Myanmar has experienced “better-than-expected performance” in its new stores, highlighting the potential to expand beyond Yangon.
“Due to rising disposable incomes, greater connectivity and economic development, we are seeing a rise in consumer spending in food and beverage, not just in Yangon but also in other towns and cities.”
Yoma also has partnerships with whisky brand Pernod Ricard and German wholesaler Metro Group. It is targeting a portfolio of six brands and more than 125 locations in Myanmar within five years.
Questions & Answers
Q.How many KFC outlets does Myanmar currently have and in how many regions?
How many KFC outlets does Myanmar currently have and in how many regions?
Myanmar currently has 26 KFC outlets spread across six regions. Only eight of these stores are located outside of the capital city, Yangon.
Q.Which company is the local franchisee responsible for KFC's operations in Myanmar?
Which company is the local franchisee responsible for KFC's operations in Myanmar?
Singapore-listed Yoma Strategic is the local franchisee for KFC in Myanmar. They are overseeing the expansion plans for the fast-food chain across the country.
Q.What is the primary reason given for the increased consumer spending on food and beverage in Myanmar?
What is the primary reason given for the increased consumer spending on food and beverage in Myanmar?
Rising disposable incomes, greater connectivity, and general economic development are cited as key factors. These trends are driving consumer spending growth in both Yangon and other cities.
Q.Does Yoma Strategic have other business interests in Myanmar besides KFC?
Does Yoma Strategic have other business interests in Myanmar besides KFC?
Yes, Yoma Strategic also has partnerships with the whisky brand Pernod Ricard and the German wholesaler Metro Group. They aim for a portfolio of six brands and over 125 locations within five years.
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