(Yicai) July 15 -- International Dairy Queen, a unit of Warren Buffett's investment firm Berkshire Hathaway, has partnered with China's CFB Group to open the US fast food chain's first Asian DQ Blizzard & Burgers restaurant in Shanghai.

IDQ's subsidiary American DQ and CFB's unit Shanghai Shida Catering Management opened the DQ Blizzard & Burgers store on July 10, the Minnesota-based firm announced on the same day. The outlet is the only DQ location in Asia serving hot food and treats, with its menu featuring five signature burgers, chicken, fries, onion rings, beverages, and a full treat menu, it added.

CFB has more than 1,200 DQ restaurants on the Chinese mainland, IDQ noted. China is IDQ's fastest-growing market and ranks second based on the number of DQ shops, only behind the United States, it added.

"With more than 1,500 DQ treat locations in China, adding DQ Blizzard & Burgers restaurants will contribute to us becoming a balanced food and treat leader globally," said Troy Bader, president and chief executive of IDQ.

DQ opened more new outlets in China last year compared with the aggregate number in the other 19 markets it operates in, Nicolas Boudet, global chief operating officer of IDQ, told Yicai. Two more DQ Blizzard & Burgers restaurants will likely open in Shanghai by the end of September, with the number of such stores to reach 180 by 2034, he added.

DQ's sales in China have been very satisfying since the end of the Covid-19 pandemic, Boudet pointed out, adding that the economy will always experience varied cycles, which can be good but can also bring more challenges. However, IDQ is optimistic about the country's economic growth from the perspective of long-term development, he said.

Regarding market changes in the 32 years since IDQ began operating in China, Bader told Yicai that the most impressive point is that Chinese consumers have been fond of trying new things, including products, flavors, or dining experiences, urging the company to endeavor to ensure the regular launch of items and concepts.

IDQ has a positive outlook on fierce competition in the Chinese market because it will lead to continuous growth and increased potential, according to Bader. The company welcomes competition and is confident about its strong competitiveness, he added.

Several foreign brands have tapped into the Chinese market using strategies such as "first global store" and "first China store" to raise brand awareness and attract more local customers. Some 114 "first shops" opened in Shanghai in the first half of this year, with 45 percent labeled as "first in China," six as "first global stores," and one as "first store in Asia," according to data from Pinpai Shudu.

Editor: Martin Kadiev