US-based restaurant company Yum! Brands has opened a new flagship KFC store in Goa, India, which is Yum’s 40,000th restaurant.
Based on a theme of 'Soul, Spirit and Heart, the new flagship KFC store consists of 4100ft2 of space and can serve over 130 people.
Yum! Brands plans to open over 1,000 KFC, Pizza Hut and Taco Bell outlets in more than 100 cities in India, targeting the country's emerging market, which has 65% of consumers under the age of 35.
It is predicted that India, which has a good retail environment and is the sixth largest poultry consumer market in the world will have the largest consuming class in the world by 2030.
The growing 'eating-out' market is estimated to be $94bn, with only 2% being organized consisting of national and international food retail brands.
Niren Chaudhary, President, Yum! Restaurants India said, that maintaining a positive outlook on the Indian market, Yum! Brands looks forward to cross 1,000th restaurant milestone by 2015.
While opening more than five new restaurants per day outside the US, Yum! Brands aims to open 1,450 new restaurants in emerging markets by the end of 2013.
David Novak, Chairman and CEO, Yum! Brands, said "Together with the growth-ready franchise partners, Yum! Brands plans to invest $10bn and have more than 20,000 restaurants in emerging markets by 2020."
