Following a successful year in business, Yum Brands Inc. is now planning to expand its reach in 2023. The parent company of Taco Bell, Pizza Hut, KFC, and Habit Burger is all set to add around 100,000 new restaurants in multiple locations around the globe. This is good news indeed for people who have been waiting for a Taco Bell or KFC outlet close to their homes.
The company already holds a dominant position in the fast food market. With the debut of the new restaurants, it will automatically become the largest fast food company in the world, further solidifying its stronghold.
The brand currently has its restaurants in 54,000 locations worldwide, partially distributed between KFC, Taco Bell, Pizza Hut and the Habit Burger Grill. Claiming that they have enough space to add new restaurants, the company hopes to reach that goal gradually over time. Between 2021 and 2022, Yum Brands Inc. has already added more than 4,000 new restaurants around the globe.
What does the expansion of Yum Brands mean for customers?
In the most basic terms, the expansion is good news for fast food fans across the world. In recent years, fast food chains owned by the company have gained massive hype following new and returning dishes, offers, and deals.
Though customers often don't mind going the extra mile for their favorite meals, social media is ever-flooded with people requesting fast food chains to add new restaurants near them.
As Yum Brands Inc. plans its growth and expansion for the upcoming year, the company has seen an ever-high increase in sales from Taco Bell and KFC restaurants across the globe. Even with competitors like McDonald's and Starbucks, the company is managing to hold firm ground in terms of total sales every year. Currently, Taco Bell is ranked fourth in terms of overall sales, while Pizza Hut and KFC are ranked 13th and 14th, respectively.
McDonald's and Starbucks also plan to expand their business in the coming year, thus posing another round of serious competition for Yum Brands Inc. Starbucks is projected to reach 45,000 total global stores by 2025, while McDonald's plans to double its stores across the globe.
Based in Louisville, Kentucky, Yum Brands Inc. and its subsidiaries include over 53,000 restaurants spread across 155 countries. Owning fast food giants like, KFC, Taco Bell, Pizza Hut and The Habit Burger Grill, the company is one of the world's most prominent fast food giants. Since the spin-off with PepsiCo in 1997, the company has become a global leader with around 1,500 world-class franchises (as per reports from 2016).
While KFC is a global leader in the chicken fast food segment, Taco Bell leads in the Mexican-American style fast food segment. The company also owns the pizza giant, Pizza Hut, and a California-based fast-casual restaurant concept, the Habit Burger, specializing in chargrilled burgers and sandwiches.