In an industry where domestic growth has been elusive, U.S.-based restaurant chains are attempting to evolve into truly global brands, reaching emerging markets where less industry saturation and competition exists. As chains seek to establish footholds in these untapped markets, they are challenged to strike a balance between maintaining their brand identities while tailoring menu items and service formats to local preferences.
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A KFC restaurant in Indianapolis was awarded LEED Gold certification by the U.S. Green Building Council (USGBC). LEED is the USGBC’s rating system for designing and constructing the world’s greenest, most energy efficient and high performing buildings.
The Wendy’s Company announced that Emil J. Brolick will join Wendy’s as president and CEO, effective September 12. Brolick, who will relocate to the Dublin, Ohio, area, will also join the Company’s Board of Directors. He succeeds Roland Smith, who will step down from his role as president and CEO but serve as a senior advisor to the Company during a transition period with Brolick through the end of the year. Smith will remain on the Company’s Board of Directors.
Over the last decade, American quick-service behemoths such as McDonald’s, Starbucks, and Pizza Hut have surged into international markets and captured diners’ interests with American dishes. But new data shows the whole industry might pay a price for that global growth.
The growing appeal of U.S. fast food in international markets has shifted world commodity supplies and spurred rising prices.
Yum! Brands Inc. announced the opening of the 400th KFC franchise restaurant in Indonesia by its international division, Yum! Restaurants International. Yum is the leading restaurant company in Indonesia with its KFC and Pizza Hut brands.
Back in mid-2002, optimism reigned at Tricon Global Restaurants, the predecessor to Yum! Brands.
The Louisville, Kentucky–based company had just purchased nearly 1,000 A&W restaurants and 1,200 Long John Silver’s units for $320 million, convinced that the recognizable names and multibranding possibilities could raise average unit volumes as much as 30 percent and produce upward of $5 billion in incremental system sales alongside nearly $1 billion in additional shareholder value.
But the promise never came true.
Yum! Brands Inc. announced its plans to place its Long John Silver’s and A&W All-American Food Restaurants for sale, and has begun a process to identify a buyer. The company is sharpening its long-term growth focus on building leading brands in every significant category in China, driving aggressive international expansion, and improving its U.S. brand positions by building new dayparts and sales layers at Taco Bell, Pizza Hut, and KFC.
Friendly Ice Cream Corporation announced today that James M. Parrish, a seasoned restaurant executive who most recently served as COOof Church’s Chicken, has joined the company as executive vice president company operations.