Graham Allan, CEO, Yum! Restaurants International, congratulated its restaurant teams and its franchise partner, PT Fastfood Indonesia, on the opening. “This milestone is a wonderful accomplishment in its own right,” he said. “It’s also testament to the strength of the KFC brand around the world as we continue to drive growth in Indonesia and other countries in Asia as well as key emerging markets like India, Russia, Africa and Latin America.”
Indonesia is a target market for Yum! with a large, young population of more than 245 million people, growing middle class and expanding economy. During the past few decades, Yum! has become the largest and fastest-growing restaurant company in Indonesia. KFC is the number-one quick-service restaurant brand and Pizza Hut is the number-one casual dining brand operating more than 200 restaurants in Indonesia.
“By 2015, we expect to have more than 1,000 KFC and Pizza Hut restaurants in Indonesia,” said Siddharth Varma, managing director, Yum! Restaurants International Asia Franchise Business Unit. “We believe we have a long runway for growth in this dynamic emerging market. We have only two restaurants per million people in a country where nearly 50% of the population lives in urban areas.”
Yum! Restaurants International operates more than 14,000 restaurants in more than 110 countries and territories outside of the US and China. The company earned revenues of more than $11 billion in 2010.