While the trade war with the US and the slowest economic growth since 1990 has companies like Caterpillar Inc., Volkswagen AG and Apple Inc. warning Chinese consumers are in retreat, Wat remains upbeat on the outlook for fried chicken and pan pizza. Yum’s positioning itself as a suite of fun, tech-driven brands aimed at China’s growing middle class, in stark contrast to their namesakes in the US which focus on no-frills value fare.
(Mar 6): KFC’s owner in China is pushing ahead with expansion plans, opening two stores a day in the world’s biggest consumer market and banking on technology to help it cut costs, even as carmakers and industrial companies signal demand there is deteriorating.
Yum China Holdings Inc, the nation’s biggest fast-food chain, which operates the KFC and Pizza Hut brands, is launching new restaurants at the second-fastest pace in 30 years and sees potential for over 11,000 more outlets, Chief Executive Officer Joey Wat said in an interview in Shanghai Tuesday.
