KFC Myanmar plans 70 stores
KFC Myanmar plans to expand into new territories as locals embrace the fast-food concept.
Two recent openings in Monywa and Pyay have brought the number of KFC outlets in Myanmar to 26 across six regions, only eight of which are outside Yangon. The local franchisee, Singapore-listed Yoma Strategic, has indicated plans to open 70 stores throughout the country by its 2023–2024 financial year.
Yoma CEO Melvyn Pun said KFC Myanmar has experienced “better-than-expected performance” in its new stores, highlighting the potential to expand beyond Yangon.
“Due to rising disposable incomes, greater connectivity and economic development, we are seeing a rise in consumer spending in food and beverage, not just in Yangon but also in other towns and cities.”
Yoma also has partnerships with whisky brand Pernod Ricard and German wholesaler Metro Group. It is targeting a portfolio of six brands and more than 125 locations in Myanmar within five years.