SHANGHAI, July 30, 2020 /PRNewswire/ — Yum China Holdings, Inc. (the “Firm” or “Yum China“) (NYSE: YUMC) at this time introduced that it has reached the milestone of 10,000 shops in its restaurant community throughout China and abroad. It celebrated on the 10,000th retailer opening this month in Bo’ao, Hainan province. This represents a major milestone for Yum China which, having first entered China in 1987, has since grown to grow to be the biggest restaurant firm within the nation by way of system gross sales.
“The opening of Yum China’s 10,000th retailer is a crucial milestone that’s symbolic of the unimaginable progress made lately. This achievement wouldn’t have been potential with out the distinctive efforts of our staff and prospects,” mentioned Joey Wat, CEO of Yum China. “Greater than 30 years in the past, we began our journey in China with the opening of the primary KFC restaurant in Beijing. Since then, our flagship manufacturers, KFC and Pizza Hut, have grow to be deeply ingrained within the lives and reminiscences of thousands and thousands of Chinese language individuals. We’re excited by our long-term prospects in China, particularly the massive potential to additional increase our retailer community and develop our digital footprint to seize on-line alternatives. To drive this progress, we’ll proceed to prioritize innovation throughout each space of our enterprise.”
Yum China at present operates a portfolio of restaurant manufacturers, together with KFC, Pizza Hut, Taco Bell, East Dawning, Little Sheep, Huang Ji Huang and COFFii & JOY, with areas in over 1,400 cities and cities throughout mainland China. These established and rising manufacturers are more and more built-in into native widespread tradition and shoppers’ each day lives.
Yum China continues to quickly increase its restaurant depend lately, from 7,562 models as of year-end 2016 to 9,200 models as of year-end 2019, representing a compound annual progress price of seven%. In 2019, Yum China opened 1,006 new shops, the best annual retailer openings in our historical past, and shut to 3 new openings per day. It’s price noting that the 10,000th retailer milestone is inclusive of the greater than 600 models contributed by Huang Ji Huang following Yum China’s acquisition of the enterprise earlier this 12 months.
Regardless of the challenges attributable to COVID-19, the Firm’s authentic goal of 800-850 new shops in 2020 stays unchanged. Yum China will use a number of retailer codecs to develop its footprint in new and current markets throughout all metropolis tiers. As well as, new designs and an intensive retailer transforming program will improve buyer expertise and hold current shops wanting refreshed.
Yum China’s long-term imaginative and prescient is to be the world’s most progressive pioneer within the restaurant trade and the Firm has prioritized innovation throughout the whole enterprise as the first enabler of progress. This consists of adopting and growing Yum China’s highly effective digital ecosystem, which integrates on-line platforms with offline shops and has been key to enhancing buyer expertise and engagement. Going ahead, Yum China will proceed to put money into key progress alternatives together with new shops, retailer transforming, digitalization, and provide chain and know-how capabilities.
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About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Manufacturers in mainland China. It has unique rights in mainland China to KFC, China’s main quick-service restaurant model, Pizza Hut, the main informal eating restaurant model in China, and Taco Bell, a California-based restaurant chain serving progressive Mexican-inspired meals. Yum China additionally owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii & JOY ideas outright. The Firm had 9,954 eating places in over 1,400 cities on the finish of June 2020. Yum China ranked # 361 on the Fortune 500 listing for 2020. In 2020, Yum China was named to the Bloomberg Gender-Equality Index and was licensed as a High Employer 2020 in China by the High Employers Institute, each for the second consecutive 12 months. For extra info, please go to http://ir.yumchina.com.
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Supply: Yum China Holdings, Inc.