Yum Brands!, operator of KFC, Pizza Hut, and Taco Bell, is now targeting India as its next key market. The company recently said it would spend $100 million in the next four to five years to expand its Indian operations and is targeting 1,000 restaurants by 2015. It currently has about 500, of which 101 were opened in 2011.
India is the world’s second most populous market and its economy is expected to grow 6 percent this fiscal year through June, according to the World Bank. “India is at the same point China was before it took off, in terms of macroeconomic parameters such as per capita income and export as a percentage of GDP, Niren Chaudhary, president of Yum Brands India, told Business Week.
“We are laying the foundation for this business to have leading brands in every significant category in India including KFC, Pizza Casual Dining, Pizza Hut Home Service, and Taco Bell,” said CEO David Novak in a conference call. “We expect this business to have a substantial impact on Yum’s profit growth in the future.”
