Yum! China Archives - Inside Retail Asia
Quick-service restaurant firm Yum China Holdings is seeking entry for Little Sheep into the Thai hotpot market, reportedly worth US$156.7 million.
Chinese KFC restaurants have begun serving parts of chickens not used before in response to rising costs.
An aggressive store rollout program is helping Yum China achieve sales growth, but its Pizza Hut business continues to struggle.
Yum China could be the target of a takeover bid, which if it proceeds would make it the largest consumer-company sale in Chinese history.
Yum China sales rose 12 per cent in the quarter to June 30, boosted by more stores and currency gains.
Technology ranging from mobile ordering to facial recognition for payments is included in new concept restaurant KPRO by KFC.
Sales, profits and margins all grew, along with store expansion, for Yum China Holdings in its first quarter.
Yum China Holdings’ profit of US$640 million last year was led by margin expansion and restaurant openings.
Taco Bell has opened its first outlet in China, in Shanghai’s Lujiazui business district.
Yum China, which becomes independent at the end of this month, says it can triple its number of restaurants.
Yum China is set to exploit “huge potential” after its spin-off from its US parent, says Neil Saunders, CEO of Conlumino.
The Alibaba-KFC partnership was growing strongly long before the tech paid $50 million for a stake in Yum China.