Yum! Brands' International Division Opens 400th KFC Restaurant in Indonesia
Milestone Spotlights Company's Growth and Success in Emerging Markets
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) announces the opening of the 400th KFC franchise restaurant in Jakarta, Indonesia, by its international division, Yum! Restaurants International (YRI). Yum! is the leading restaurant company in Indonesia with its KFC and Pizza Hut brands.
"Congratulations to our restaurant teams and to our franchise partner PT Fastfood Indonesia on the successful opening of the 400th KFC in Indonesia," said Graham Allan, Chief Executive Officer, Yum! Restaurants International. "This milestone is a wonderful accomplishment in its own right. It's also testament to the strength of the KFC brand around the world as we continue to drive growth in Indonesia and other countries in Asia as well as key emerging markets like India, Russia, Africa and Latin America."
Yum!'s Chairman and CEO, David Novak, attended the grand opening along with long-standing franchisee Dick Gelael who opened the first KFC in Indonesia in 1979.
Indonesia is a key emerging market for Yum! with a large, young population of more than 245 million people, growing middle class and expanding economy.
Over the past few decades, Yum! has become the largest and fastest growing restaurant company in Indonesia by pursuing a broad based development program supported by a sophisticated supply chain infrastructure. This brand building strategy has been made successful thanks to extremely strong franchise partners, a highly-skilled workforce focused on providing outstanding customer service and innovative, localized menus offering good value to Indonesian consumers. KFC is the number one quick-service restaurant brand and Pizza Hut is the number one casual dining brand with more than 200 restaurants in Indonesia.
"By 2015, we expect to have more than 1,000 KFC and Pizza Hut restaurants in Indonesia," said Siddharth Varma, Managing Director, Yum! Restaurants International Asia Franchise Business Unit. "We believe we have a long runway for growth in this dynamic emerging market. We have only two restaurants per million people in a country where nearly 50 percent of the population lives in urban areas," added Varma.
Yum! Restaurants International has more than 14,000 restaurants in more than 110 countries and territories outside of the U.S. and China. One of Yum! Brands' four key business strategies is to drive aggressive international expansion and build strong brands everywhere.
Yum! Brands, Inc., based in Louisville, Ky., is the world's largest restaurant company in terms of system restaurants with more than 37,000 restaurants in more than 110 countries and territories. The company is ranked #216 on the Fortune 500 List, with revenues of more than $11 billion in 2010. Four of the company's restaurant brands – KFC, Pizza Hut, Taco Bell and Long John Silver's – are the global leaders of the chicken, pizza, Mexican–style food categories and quick–service seafood categories. A&W Restaurants is the longest running quick–service franchise chain in America. Outside the United States, the Yum! Brands system opened nearly four new restaurants each day of the year, making it a leader in international retail development. The company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. In 2007, Yum! launched World Hunger Relief, the world's largest private sector hunger relief effort to raise awareness, volunteerism and funds to benefit the United Nations World Food Programme (WFP) and other hunger relief agencies. To date, this effort has raised nearly $85 million for WFP and other hunger relief agencies and is helping to provide approximately 350 million meals, saving the lives of millions of people in remote corners of the world where hunger is most prevalent.