Led by Micky Pant, Yum China finalizes expansion plan
Even with a track record of setting up nearly 600 restaurants per year in China, and managing around 7,500 KFC, Pizza Hut, Little Sheep and East Dawning stores in the country, Micky Pant, chief executive officer of Yum China Holdings Inc, remains cautiously optimistic about the comeback of Taco Bell, the Mexican-themed chain under the fast-food giant.
Pant, who steers the company behind labels such as KFC and Pizza Hut in China, believes that time is ripe to test diners’ appetite for nachos and cheese.
“We choose Lujiazui, the financial hub of Shanghai, to open the first store because it is a combination of travelers, businessmen and the young, making it an ideal place to find out who is attracted to Taco Bell,” said Pant.
KFC and Pizza Hut restaurants, found across Chinese cities, had powered parent Yum Brands’ local unit’s growth for long by fulfilling local consumer demand for a taste of Americana.
With a revenue of $6.75 billion in 2016, Yum China retains the largest market share in the fast-food segment, according to consultancy Euromonitor International.
As domestic competition intensifies and the rising middle class seek healthier and go beyond Western fast food for fine-dining experiences, Yum China is rethinking its China strategy.
It spun off its Chinese enti-
We choose Lujiazui ... to open the first store because it is a combination of travelers, businessmen and the young ...” Micky Pant, chief executive officer of Yum China Holdings Inc