Yum China Holdings Inc. (Shanghai) has opened KFC China’s 10,000th store, in Hangzhou, while also announcing plans to open 1200 stores annually for the next three years.
“As the first western QSR restaurant brand in China to reach this incredible milestone, KFC China’s 10,000th store opening is a proud moment for all of us, demonstrating the brand’s deep bond with Chinese consumers across generations for over 36 years. Strategically positioned for sustained growth, KFC China stands to benefit from its large and rapidly expanding store network, substantial economies of scale and access to an even broader customer base,” said Yum China CEO Joey Wat. “Presently serving just one-third of China’s population, our goal is for KFC China to reach over half by 2026. By leveraging our solid foundation of success and tremendous untapped potential for future growth, we are confident that KFC China will continue to be China’s leading restaurant brand for many years to come.”
That goal translates into KFC China accelerating its annual net new-store openings to exceed 1200 per year over the next three years, with 15-20 percent expected to be franchise stores.
Yum China’s overarching goal is to reach 20,000 stores by 2026. (In addition to KFC, the company operates the Pizza Hut, Taco Bell, Little Sheep, Huang Ji Huang and Shaofaner brands in the country. The company is also partnering with Lavazza develop a coffee shop concept in China.)