Milestone Spotlights Company’s Expansion in Emerging Markets
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Yum! Brands, Inc. (NYSE: YUM) today announced the grand opening of the
first KFC in Mongolia by its international division, Yum! Restaurants
International (YRI) in conjunction with franchise partner, Tavan Bogd
Group. The introduction of the first KFC in Mongolia reflects the
extreme reach of the KFC Brand and the company’s strategy of staying the
course with global expansion in emerging markets.
Yum! Brands extends its KFC Original Recipe eleven herbs and spices to Mongolia. (Photo: Business Wire)
“KFC is now in nearly every corner of the world,” said Micky Pant, CEO,
Yum! Restaurants International. “In a world that’s connected more than
ever, customers are craving brands like KFC, even in previously remote
areas, such as Mongolia. We’re excited to work with such a
well-respected franchisee to bring the taste of KFC to the country.”
The new KFC, located in the capital city of Ulaanbaatar, is Mongolia’s
first experience with the world’s favorite chicken restaurant, offering
Colonel Sanders’ secret Original Recipe of 11 herbs and spices. The KFC
Mongolia menu will feature Original Recipe chicken, popcorn chicken, the
Original Recipe burger, Zingers, Twisters, salads, mashed potatoes and
coleslaw and will expand to include additional items in the future.
“As a franchisee of KFC, we intend to continue KFC’s long-tradition of
generosity and hospitality for all,” said Hulan D., CEO, Tavan
Bogd Foods. “We’re proud to deliver abundant, craveable meals, freshly
prepared in-store every hour, every day, by specially trained cooks to
Mongolians.”
Locally owned and operated, the KFC in Ulaanbaatar is the first of the
franchise group’s five planned to open this year. Tavan Bogd Foods plans
to open 15 more restaurants over the next five years including the first
drive-thru service.
Yum! Restaurants International has approximately 14,700 restaurants
outside of the U.S., China and India. 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, Kentucky, is the world’s largest
restaurant company in terms of system units with more than 39,000 KFC,
Pizza Hut and Taco Bell restaurants in more than 130 countries and
territories and 1.5 million associates. Yum! is ranked #201 on the
FORTUNE 500 list, with revenues of more than $13 billion in 2012. 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 more than five
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.
The Tavan Bogd Group is a privately-owned Mongolian conglomerate with
strategically diversified business interests. Tavan Bogd manages leading
businesses and brands in trade and service, manufacturing, tourism and
hospitality, mining equipment supply, and banking. Its subsidiaries and
affiliated companies such as Khan Bank, Gobi Cashmere, Ulaanbaatar
Flour, Kempinski Khan Palace Hotel and many others are market leaders in
their respective business sectors. Tavan Bogd is also the distributor of
other well-known brands, including of Volkswagen, Hitachi Construction
Machinery, Yokohama, Bridgestone, Total, Colgate & Palmolive, Unicharm,
Avon, l’Occitane, LG Household & Health Care, XEROX, FujiFilm, Heinz,
Advance Agro and Lotte.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130529006492/en/
Yum! Restaurants International
Christopher Fuller, 502-874-7400
Source: Yum! Brands, Inc.