Oct. 29, 2009
Pizza Hut parent Yum! Brands Inc. announced the grand opening of its 13,000th restaurant outside the United States and China by its international division, Yum! Restaurants International (YRI). The opening reinforces the strength of the company's global portfolio of brands and growth in key emerging markets. The new restaurant, located in New Delhi, is the first KFC in India to feature a Krushers beverage bar and store design highlighting YRI's popular new line of cold and hot drinks.
Over the past 11 years, Yum! has become the largest and fastest growing restaurant company in India. As of its third-quarter 2009 earnings, the company has 153 Pizza Huts in 34 cities and 49 KFCs in 11 cities. In June, the Economic Times (India) named Pizza Hut the most trusted food service brand in the country for a fifth year, demonstrating the brand's popularity in a market with a large middle class population.
"By 2015, we expect to have at least 1,000 restaurants in India, up from just over 200 today," said Niren Chaudhary, managing director, YRI India. "The number of people who can afford our food will reach 200 million people within five years, and we are very excited about serving Pizza Hut, KFC and soon Taco Bell to them."
One of Yum! Brands' four key business strategies is to drive aggressive international expansion and build strong brands everywhere. In 2008, operating profit for YRI was $528 million. The year 2008 also marked the eighth year that YRI has opened more than 700 new restaurants outside the U.S. and China.