Business

Yum Brings Taco Bell Back to China After a Decade

By | Jan 14, 2017 03:02 AM EST
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Taco Bell

Taco Bell is taking another chance to gain foothold in the burgeoning market of China.
(Photo : Getty Images)

Taco Bell is taking another chance to capture the Chinese markets with its latest store in Shanghai. The company plans to open several other branches in major Chinese cities, before going for a national rollout. Taco Bell will be brought to the country by Yum China, which also owns Pizza Hut and KFC brands domestically.

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The latest attempt will be the second time for Taco Bell to gain foothold in the burgeoning market of China. Earlier, Yum had introduced Taco Bell Grande nearly a decade earlier. The initiative was completely shut down by 2008.

The new Taco Bell is located close to the Oriental Pearl Tower in Lujiazui area of the city. The company said that the branch has generated positive initial results.

The announcement follows another important change in the market as McDonald's recently announced selling a part of its business in China. However, with the population of more than 1.3 billion, China is one of the fastest growing markets in the world.

Micky Pant, the CEO of Yum China, told Nation's Restaurant News, "Taco Bell is an innovative brand with a strong heritage that we believe will resonate well with Chinese millennials." After its previous failed attempt, Yum is taking a new approach to capture Chinese market. The company plans to customize its offerings to cater to local tastes.

While McDonalds is consolidating its business in China, other known western brands such as Starbucks, have created a niche market for themselves. Starbucks currently has more than 2,000 stores around the country and plans to open 2,500 more by 2021.

 

 

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