Milestone Spotlights Company’s Growth and Success in Emerging Markets
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Yum! Brands, Inc. (NYSE: YUM) announces the opening of the 400th KFC
franchise restaurant in Jakarta, Indonesia, by its international
division, Yum! Restaurants International (YRI). Yum! is the leading
restaurant company in Indonesia with its KFC and Pizza Hut brands.
Yum! Brands' international division, Yum! Restaurants International, opens the 400th KFC franchise restaurant in Indonesia, a key emerging market for the Company due to its large and young population, growing middle class and expanding economy. By 2015, the Company expects to have more than 1,000 KFC and Pizza Hut restaurants in Indonesia. (Photo: Business Wire)
“Congratulations to our restaurant teams and to our franchise partner PT
Fastfood Indonesia on the successful opening of the 400th KFC in
Indonesia,” said Graham Allan, Chief Executive Officer, Yum! Restaurants
International. “This milestone is a wonderful accomplishment in its own
right. It’s also testament to the strength of the KFC brand around the
world as we continue to drive growth in Indonesia and other countries in
Asia as well as key emerging markets like India, Russia, Africa and
Latin America.”
Yum!’s Chairman and CEO, David Novak, attended the grand opening along
with long-standing franchisee Dick Gelael who opened the first KFC in
Indonesia in 1979.
Indonesia is a key emerging market for Yum! with a large, young
population of more than 245 million people, growing middle class and
expanding economy.
Over the past few decades, Yum! has become the largest and fastest
growing restaurant company in Indonesia by pursuing a broad based
development program supported by a sophisticated supply chain
infrastructure. This brand building strategy has been made successful
thanks to extremely strong franchise partners, a highly-skilled
workforce focused on providing outstanding customer service and
innovative, localized menus offering good value to Indonesian consumers.
KFC is the number one quick-service restaurant brand and Pizza Hut is
the number one casual dining brand with more than 200 restaurants in
Indonesia.
“By 2015, we expect to have more than 1,000 KFC and Pizza Hut
restaurants in Indonesia,” said Siddharth Varma, Managing Director, Yum!
Restaurants International Asia Franchise Business Unit. “We believe we
have a long runway for growth in this dynamic emerging market. We have
only two restaurants per million people in a country where nearly 50
percent of the population lives in urban areas,” added Varma.
Yum! Restaurants International has more than 14,000 restaurants in more
than 110 countries and territories outside of the U.S. and China. One of
Yum! Brands’ four key business strategies is to drive aggressive
international expansion and build strong brands everywhere.
Yum! Brands, Inc., based in Louisville, Ky., is the world’s largest
restaurant company in terms of system restaurants with more than 37,000
restaurants in more than 110 countries and territories. The company is
ranked #216 on the Fortune 500 List, with revenues of more than $11
billion in 2010. Four of the company’s restaurant brands – KFC, Pizza
Hut, Taco Bell and Long John Silver’s – are the global leaders of the
chicken, pizza, Mexican–style food categories and quick–service seafood
categories. A&W Restaurants is the longest running quick–service
franchise chain in America. Outside the United States, the Yum! Brands
system opened nearly four new restaurants each day of the year, making
it a leader in international retail development. The company has
consistently been recognized for its reward and recognition culture,
diversity leadership, community giving, and consistent shareholder
returns. In 2007, Yum! launched World Hunger Relief, the world’s largest
private sector hunger relief effort to raise awareness, volunteerism and
funds to benefit the United Nations World Food Programme (WFP) and other
hunger relief agencies. To date, this effort has raised nearly $85
million for WFP and other hunger relief agencies and is helping to
provide approximately 350 million meals, saving the lives of millions of
people in remote corners of the world where hunger is most prevalent.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6687831&lang=en
Source: Yum! Brands, Inc.
Contact:
Yum! Brands, Inc.
Virginia Ferguson, 502-874-8200