QSR Brands eyes 24 KFC stores in 2019
The operator of the chicken chain has been diversifying their expansion strategy through strategic partnerships.
QSR Brands is targeting to open 24 KFC outlets in Malaysia by 2019 as part of the operator’s long-term strategy to diversify their expansions and widen their market reach.
The announcement was made after the signing of a memorandum of agreement with investment holding company Matrix Concepts for their second KFC drive-thru store, which will be completed by November 2019.
“[W]e hope that we will be able to develop another 24 stores of KFC for 2019,” Dato’ Seri Mohamed Azahari, managing director of QSR Brands, said.
Last September saw the fast food operator opening its first drive-thru store with Matrix Concepts in Bandar Sri Sendayan, which is also the brand’s 700th site in the country.
In a draft prospectus for their upcoming IPO, QSR Brands said that they aim to “open or relocate” 35 KFC outlets, allotting a budget of RM1.1 million to RM2.2 million (US$263,780 to US$527,560) per outlet in 2019.
They previously signed a memorandum of understanding last May with oil and gas company Petronas Dagangan Berhad, where 50 KFC drive-thru outlets will be opened within their gas stations for the next three years.
“While continuing to strengthen our core product and service offerings to deliver excellent customer experiences, we place a great emphasis on our expansion strategies so we could meet the elevated demands of our customers today and tomorrow,” Azahari said in an earlier statement.
QSR Brands currently has over 810 KFC restaurants in Malaysia, Singapore, Brunei, and Cambodia. They are also the operator of Pizza Hut in Malaysia and Singapore, with more than 380 restaurants in Malaysia and 80 restaurants in Singapore.
