How KFC won over China
KFC is one of the world’s largest restaurant chains, with more than 29,000 locations and a new outlet opening every three and a half hours, according to Yum! Brands.
But while much of the brand’s early success came from the U.S., today the majority of its growth is in China.
KFC China recently celebrated the opening of its 10,000th store in the city of Hangzhou, about an hour outside of Shanghai. By comparison the U.S. has a little over 4,300 KFC locations.
Known in China for more than just chicken, a typical menu can include items like rice congee, steamed dumplings and egg tarts.
But the chain has faced headwinds including lockdowns due to Covid-19, concerns about the health of the Chinese consumer and questions about plans for future growth.
So how did KFC overtake other fast food chains like McDonalds, Starbucks and Taco Bell in China, and can the business continue to grow? CNBC traveled to Hangzhou, China, and got an exclusive interview with the CEO of Yum China, Joey Wat, to find out.
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