Yum China eyes Thailand with A Fresh Hotpot Concept
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Yum China looks to expand Asian footprint for hot-pot restaurant brand.
Quick-service restaurant firm Yum China Holdings is seeking entry into the Thai hotpot market, reportedly worth THB5 billion (US$156.7 million).
The company is seeking a local partner to launch its Little Sheep Mongolian hotpot chain in the territory.
“The food and beverage industry in Thailand is one of the most developed markets in the world,” said Yum’s senior specialist for franchise development Isa Jiang. “Thailand also has a rich history of hotpots, as well as food culture.”
Sixty-six Little Sheep outlets opened in China last year, as well as a further 10 abroad. Seventy of the openings were franchised. The restaurant is currently operated in 300 locations across 130 cities.
“Ma la, or Sichuan hot chillies, is growing in popularity with Thais,” said business advisory firm Gnosis MD Sethaphong Phadungpisuth, “and we believe that Little Sheep will fit well with Thai tastes.”
“Southeast Asia and the US have the highest projections for expansion this year,” observed Jiang. “We are focusing on Malaysia, the Philippines and Indonesia. Shabu restaurants are quite popular in Thailand, but we are confident in our key product’s characteristics, especially our meat and broth.”
Questions & Answers
Q.Which specific brand of hotpot restaurant is Yum China planning to introduce to Thailand?
Which specific brand of hotpot restaurant is Yum China planning to introduce to Thailand?
Yum China is seeking to launch its Little Sheep Mongolian hotpot chain in Thailand. They aim to find a local partner to establish this brand in the territory.
Q.What is the estimated value of the hotpot market in Thailand that Yum China is targeting?
What is the estimated value of the hotpot market in Thailand that Yum China is targeting?
The hotpot market in Thailand is reportedly worth THB5 billion, which translates to US$156.7 million. This is the market Yum China is looking to enter.
Q.How many Little Sheep outlets opened last year, and how many of those were franchises?
How many Little Sheep outlets opened last year, and how many of those were franchises?
Last year, 66 Little Sheep outlets opened in China and a further 10 abroad, totalling 76 new locations. Of these openings, 70 were franchised operations.
Q.Besides Thailand, which other Southeast Asian countries are Yum China eyeing for expansion this year?
Besides Thailand, which other Southeast Asian countries are Yum China eyeing for expansion this year?
Yum China is focusing on Malaysia, the Philippines and Indonesia for expansion this year. Southeast Asia and the US have the highest projections for growth.
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