SHANGHAI, March 16, 2017 /PRNewswire/ -- Micky Pant, CEO of Yum China, yesterday spoke to students at Peking University's Guanghua School of Management in Beijing to share Yum China's experiences learned from building a leading restaurant business in China over the past 30 years.
During the presentation, Micky Pant highlighted five areas that have been central to Yum China's success in China including proactive product and menu localization to cater to evolving consumer preferences; developing talent and empowering people through programs such as granting shares to all qualified restaurant general managers; innovative marketing initiatives to connect with Chinese consumers; establishing leadership in digital engagement and delivery; and combining international perspectives with local insights.
"2017 marks the 30th year of Yum China and we are enormously proud of the positive contributions we have made to the country's economic and social development during this time," said Micky Pant, CEO, Yum China. "We would not have achieved what we have today without the incredible people we have right across our business. Yum China has always encouraged our people to become better, offering on-the-job training and development programs as well as exploring new ways to inspire the next generation of business leaders. I am really excited to have the opportunity to come to Peking University today and talk directly with some of China's business leaders of the future." Following the presentation, Mr. Pant led a discussion with the students on how international brands could innovate and localize their businesses in order to successfully expand in the Chinese market.
Yum China has a long and successful track record of doing business in China. As the first international restaurant chain operator entering the China market, it opened the country's first KFC in 1987 in Qianmen, Beijing. From one restaurant 30 years ago, Yum China is now the largest restaurant company in China, with more than 7,500 restaurants of KFC, Pizza Hut, Little Sheep, East Dawning and Taco Bell in over 1,100 cities. In the past five years, Yum China has opened an average of two new locations per day, serving 2 billion customers every year.
"Over the past 30 years, we have supported the modernization and evolution of the country's restaurant sector by introducing international standards, sharing global knowledge and training generations of industry professionals. As an independent company focused on China, we are now in a position to make even greater contributions to the industry, our communities and the country," added Mr. Pant.
30 Years of Yum China
- 1987 -- KFC opens its first China location in Qianmen, Beijing
- 1990 -- Pizza Hut opens its first China location in Beijing
- 2001 -- Pizza Hut Home Service launches in Shanghai
- 2004 -- KFC opens its 1,000th restaurant in China
- 2005 -- First East Dawning restaurant opens in Shanghai
- 2012 -- Yum! Brands acquires Little Sheep
- 2013 -- Pizza Hut Casual Dining opens its 1,000th restaurant in China
- 2015 -- KFC opens its 5,000th restaurant in China
- 2015 -- Yum China opens its 7,000th restaurant in China
- 2016 -- Yum China spins off from Yum! Brands and lists on the New York Stock Exchange
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China's leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, which opened its first restaurant in China at the end of 2016. Yum China also owns the Little Sheep and East Dawning concepts outright. Yum China is well positioned for growth thanks to its strong competitive position, integration of its brands into Chinese popular culture and consumers' daily lives, expanding geographic footprint in China and existing operational expertise. It has a strong capital position, no external debt and expects to continue growing its system sales and profit by adding new restaurants and through growing same-store sales. Yum China had more than 7,500 restaurants and more than 420,000 employees in over 1,100 cities at 2016 year end. A new generation of younger consumers who are digitally sophisticated and brand driven are fueling growth in consumption in China. The ongoing growth of the middle class and urban population in China is expected to create the world's largest market for restaurant brands, with Yum China poised to be the market leader.
Yum China Media Contacts
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SOURCE Yum China Holdings, Inc