(Yicai Global) Nov. 3 -- Yum China Holdings Inc [NYSE:YUMC], which has just listed on the New York Stock Exchange as an independent company, has unveiled an ambitious plan to open a massive number of stores in China.
Yum China plans to triple the number of its stores in the next 10-20 years, Yum China chief executive Micky Pant told Yicai Global. "I really don't see any reason why we cannot have 20,000 restaurants in China," he said.
Yum China will become the biggest independent restaurant company in China with more than 7,000 outlets, including the Little Sheep hot pot chain and East Dawning, which offers quickly prepared home-style cooking and steamed buns. The Chinese brands will join its roster of US brands KFC, Pizza Hut and a new addition, Taco Bell, the first time the Mexican fast food chain has opened wide in China.
Most the new stores will be directly managed by Yum China. Directly managed stores have better execution and higher customer satisfaction. Yum China will have its own supply chain to meet consumer demand.
After several food hygiene scandals including McDonald's and KFC being sold expired meat, Yum China are especially concerned about food safety and will only deal with top-quality suppliers