The restaurant is much like so many others across the country, designed tastefully to look like a classical Chinese garden. The main dining space, surrounded by green bamboo, is generously filled with flowers, has a moon-shaped doorway, and is decorated in Great Wall gray and jade. But what’s surprising is that it’s actually owned by one of biggest names in global fast food: Yum Brands Inc’s KFC. And it’s been completely designed digitally, in collaboration with Baidu Inc, the Chinese web services giant…Full Article: ECNS.cn May 2016
- KFC’s concept restaurant is located in Shanghai’s National Exhibition and Convention Center. The restaurant allows customers to order food via Baidu’s Duer, a virtual personal assistant.
- Yum Brands tentatively plans to split off its Chinese division into a separate company in before the end of 2016. The new company may be listed on the New York Stock Exchange or Hong Kong Stock Exchange.
- In April 2016, China Investment Corp (CIC) announced it may invest the new Chinese division of Yum Brands.
- In March 2016, Yum Brands announced it would open its first Taco Bell fast food restaurant in China by the end of the year. Additionally, Yum Brands opened its first Kentucky Fried Chicken (KFC) restaurant in Tibet.
- As of December 2015, Yum Brands operated approximately 6,900 restaurants (e.g. KFC, Pizza Hut, etc.) in roughly 1,000 Chinese cities. During the same month, KFC announced it would open its first restaurant in Tibet in January 2016.
- 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”.