U.S. fast-food giant Kentucky Fried Chicken (KFC) has decided to open its first chain store in southwest China’s Tibet Autonomous Region next month. KFC signed a contract with a shopping mall in downtown Lhasa, capital of the region, to open the first KFC restaurant in Tibet by the end of January, 2016, said Chen Biao, a manager with the Lhasa Shenlishidai shopping center. The KFC restaurant in Lhasa, which is under decoration now, is designed to cover 540 square meters including two stories…Full Article: Xinhua Finance Dec 2015
- Kentucky Fried Chicken will also construct a 4.67 ha cold storage facility in the suburbs of Lhasa that could serves expansion schemes.
- In late-October 2015, Yum Brands announced it would split off its Chinese division into a separate company.
- In mid-October 2015, Yum stated it would lower its annual growth forecast in light of lackluster sales.
- In August 2015, there was speculation that Yum Brands would spin off its KFC division after the CEO of Yum’s KFC Division transitioned to the CEO position of Yum China.
- In June 2015, Kentucky Fried Chickens comprised 4,889 out of Yum’s 6,853 (or 71%) restaurants in China.
- KFC is owned by Yum Brands, a company that also manages Taco Bell and Pizza Hut. The company also manages a high-end Italian restaurant in Shanghai called “Atto Primo”.