Yum! Brands Inc. (YUM), the owner of the KFC and Taco Bell fast-food chains, is in an aggressive expansion mode in India and aims at reaching $1 billion mark in sales by 2015 with its own and franchise outlets in the second most populous nation.
Yum will invest $10 billion with its franchise partners in emerging markets by 2020, the Louisville, Kentucky-based company said in a statement today, at the recent opening of its restaurant in Goa, India. Yum is focussing on India and other emerging markets as greater competition and avian flu concerns earlier this year hurt its business in China, the company’s largest market.
The fast-food operator gets less than 1 percent of its revenue from India, where Euromonitor forecasts the market for restaurant chains will more than triple to $6.5 billion by 2018.
Yum will invest $10 billion with its franchise partners in emerging markets by 2020, the Louisville, Kentucky-based company said in a statement today, at the recent opening of its restaurant in Goa, India. Yum is focussing on India and other emerging markets as greater competition and avian flu concerns earlier this year hurt its business in China, the company’s largest market.
The fast-food operator gets less than 1 percent of its revenue from India, where Euromonitor forecasts the market for restaurant chains will more than triple to $6.5 billion by 2018.