Yum Brands to double Thai network
Yum Brands Thai subsidiary Yum Restaurants International plans to double its presence in the country – from 500 restaurants to 1000 by 2020.
Yum Restaurants International operates 430 KFCs and 70 Pizza Huts in Thailand. With an investment of 27 billion baht (US$859.55 million), the subsidiary will add 500 more over the next eight years.
Yum Brands chairman and CEO David Novak said the Thailand expansion and additional investment reflects the country’s urbanisation. Currently about 35 per cent of the Thai population lives in cities, but that figure is forecast to grow to 52 per cent by 2020.
“Global quick-serve food brands with sophisticated and healthier products are required to fulfill the needs of urban lifestyles throughout Thailand,” Novak said.
“Thailand has become more and more important. We made tremendous growth for the past four years. That’s why we are confident in the future. Thailand’s economy is growing very fast.”
The expansion will generate another 14,000 jobs, taking staff numbers to 28,000 jobs by 2020. Yum Brands has been operating in Thailand for 28 years and it is now one the company’s top 10 international markets.
Based in Louisville, Kentucky, Yum Brands achieved worldwide sales of US$13 billion last year.