Taco Bell China on the way
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Mexican-inspired fast food is about to tickle Asian palettes, with the first Taco Bell China restaurant scheduled to open this year.
Yum Brands! CEO Greg Creed, speaking at a consumer and retail conference in New York, says the first taco Bell China outlet will open in Shanghai.
US-headquartered Yum! Is in the process of separating its China business into an independent, publicly traded company this year. It has about 7000 KFC and Pizza Hut restaurants in China and believes the spin-off will boost returns and increased asset value for shareholders of both companies post-split.
Yum! plans to franchise 96 per cent of its outlets by the end of next year, and believes that model will enable it to nearly treble the store network from the present 6900 stores to 20,000.
A subsidiary of Yum, Taco Bell is an American chain of fast-food restaurants based in Irvine, California. Founded in 1962 by Glen Bell, it has more than 6600 stores across mainland US with 175,000-plus employees.
Questions & Answers
Q.Which city will host the first Taco Bell restaurant in China?
Which city will host the first Taco Bell restaurant in China?
The initial Taco Bell China outlet is planned to open in Shanghai. This will be the first time the Mexican-inspired fast food chain enters the Chinese market, as confirmed by Yum Brands! CEO Greg Creed.
Q.What is Yum! Brands' strategy for its China business this year?
What is Yum! Brands' strategy for its China business this year?
Yum! Brands is in the process of spinning off its China business into a separate, independent, publicly traded company this year. This move is expected to improve shareholder returns and increase asset value for both entities after the split.
Q.What expansion plans does Yum! Brands have for its global store network?
What expansion plans does Yum! Brands have for its global store network?
Yum! Brands aims to nearly treble its store network from the current 6,900 outlets to 20,000 stores. This ambitious growth will be primarily driven by a franchise model, with 96 per cent of its outlets franchised by the end of next year.
Q.How many KFC and Pizza Hut restaurants does Yum! Currently operate in China?
How many KFC and Pizza Hut restaurants does Yum! Currently operate in China?
Yum! Currently operates approximately 7,000 KFC and Pizza Hut restaurants across China. These established brands form a significant part of their presence in the country ahead of the planned spin-off of their China business.
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