Yum China celebrates 10,000th store milestone
The company says store targets for this year remain unchanged.
Yum China announced that it has now opened 10,000 stores in its restaurant network across China and overseas.
The milestone store is a KFC outlet located in Bo'ao, Hainan province.
"The opening of Yum China's 10,000th store is an important milestone that is symbolic of the incredible progress made in recent years. This achievement would not have been possible without the exceptional efforts of our employees and customers," Joey Wat, CEO of Yum China, said in a statement. “We are excited by our long-term prospects in China, especially the huge potential to further expand our store network and grow our digital footprint to capture online opportunities. To drive this growth, we will continue to prioritize innovation across every area of our business."
Apart from KFC, Yum China’s portfolio of restaurant brands include Pizza Hut, Taco Bell, East Dawning, Little Sheep, Huang Ji Huang and COFFii & JOY, with locations in over 1,400 cities and towns across mainland China.
Yum China says its restaurant count in recent years, from 7,562 units as of year-end 2016 to 9,200 units as of year-end 2019, represent a compound annual growth rate of 7%.
In 2019, Yum China opened 1,006 new stores, considered the highest annual store openings in their history.
Despite the challenges caused by COVID-19, Yum China says its original target of 800-850 new stores in 2020 remains “unchanged”, planning to use multiple store formats to grow its footprint in new and existing markets across all city tiers.
New designs and an extensive store remodeling program are also planned.
