Yum! Brands Inc that owns KFC and Pizza Hut chains plans to invest $10 billion along with its franchise partners to have 20,000 restaurants in emerging markets, including India, by 2020.
Yum! Brands Inc, the fastfood chain, which today announced its 40,000th restaurant globally with the opening of an outlet in Goa, also said that by 2015 it will have over 1,000 KFC, Pizza Hut and Taco Bell outlets in more than 100 cities in India division that includes Sri Lanka, Nepal, Bangladesh and Mauritius.
This division has 613 outlets, of which 528 are in India.
"Together with our growth-ready franchise partners, Yum! Brands plans to invest USD 10 billion and have more than 20,000 restaurants in emerging markets by 2020," Yum! Brands Chairman and CEO David Novak said in a statement.
India is one of the biggest emerging market opportunities in the world and the company is thrilled to celebrate its 40,000th restaurant here, he added.
"With only two restaurants per million people in the top 10 emerging markets, vs 58 restaurants per million in the US, we are only on the ground floor of global growth," Novak added.
Commenting on the growth in India, Yum! Restaurants India President Niren Chaudhary said: "Our India business has been making incredible progress,laying the foundation for similar emerging markets where the consuming class is likely to double in five years."
US-based Yum! Brands, Inc has presence in 130 countries with restaurant brands - KFC, Pizza Hut and Taco Bell - and are the major players in chicken, pizza and Mexican-style food categories.