Chinese

Popeyes signs first lease in China

Summary

Popeyes signs first lease in China American fast food chain Popeyes wants to become the leading brand in China, the chief executive of its parent company, which is gearing up to fight KFC for leadership in the world’s most populous […]

Popeyes signs first lease in China

American fast food chain Popeyes wants to become the leading brand in China, the chief executive of its parent company, which is gearing up to fight KFC for leadership in the world’s most populous market, said on Tuesday..

Popeyes signed a lease in Shanghai for its first store in China on Monday, scheduled to open next year..

In July, the company mapped out plans to build 1,500 restaurants in China over the next decade. Popeyes is part of the Restaurant Brands International Inc. (RBI) based in Toronto.

In turn, Yum China’s KFC has about 6,300 stores. The company notes great opportunities for expansion in China, noting that while they are present in 1,300 Chinese cities, another 700–800 cities still have no KFC eateries.

Popeyes’ plan is to «just create a foundation for short term business potential», said RBI CEO Jose Seal in an interview in Shanghai.

«I think we can become the # 1 chicken brand here in China and throughout Asia», – he said, adding that consumers in the region are looking for different options. He dismissed concerns that a slowdown in China’s economy and trade tensions weakened long-term growth prospects.

Seal’s remarks are prompted by the Cajun-inspired fast food chain experiencing a surge in popularity in the United States after the recently released fried chicken sandwich hit social media. The demand was such that Popeyes had to stop taking orders two weeks later before resuming the process this month..

The sandwich will also be offered in China, he said..

Seal noted that two other major RBI brands are seeing rapid growth in China.

Burger King expanded to 1,100 eateries in China, starting with less than 100 in 2012. «We think we will continue to grow at a steady pace», – said Seal.

And Tim Hortons, its Canadian coffee chain, just opened its 28th store in China after launching in February..

Popeyes signs first lease in China

«We are preparing to accelerate growth in the coming years», – Seal said about the brand.