JV plans 20 Pizza Hut Myanmar stores
Hong Kong’s Jardine Group says its Myanmar joint venture will open up to 20 Pizza Hut restaurants across the new market within five years.
With the first outlet just opened in Yangon, the Jardine CM Restaurant Group plans a second in early 2016 with a gradual expansion thereafter as it tests the market. If sales are high, the rollout may be sped up, according to a company spokesman.
Jardine CM Restaurant Group is a joint venture between Jardine Restaurant Group Myanmar and City Mart Holding, which owns the Pizza Hut Myanmar franchise.
Vipul Chawla, MD of Pizza Hut, Asia for parent Yum! Brands, says the company sees huge potential across Asia.
“Pizza Hut has 25 restaurants for every million people in the US. In Asia we have 11 restaurants per million people. Myanmar has huge potential with a population of more than 50 million,” he said during the opening ceremony for the first restaurant.
Jardine Restaurant Group operates more than 680 Pizza Hut and KFC restaurants across Vietnam, Taiwan, Hong Kong and Macau.
Henry Yip, Jardine Restaurant Group CEO, says 97 per cent of the first store’s staff are local and a majority of its ingredients are sourced locally.
“We are also investing heavily in training and career development to ensure global best practices.”
Recipes in the restaurant have been tailored to the local palate without removing options which those who have dined in Pizza Huts elsewhere in the world will find familiar.
“We have researched the tastes preferred by local customers, and tailored our recipes accordingly,” said Simon Arnold, Pizza Hut Myanmar GM.
Jardine will not be taking KFC into Myanmar – that franchise partnership was secured by Yoma Strategic Holdings, chaired by Serge Pun.