The Dow Jones news service and other international media quote Yum! Brands’ top India-based exec as saying the company will invest $150 million to take the number of its restaurants in India to 1,000 by 2015 from about 400 now.
“The company is aiming at total sales of $1 billion from India by 2015,” Niren Chaudhary, managing director of Yum! Restaurants India Pvt. Ltd., told reporters at an industry event, according to multiple media reports.
The Wall Street Journal followed up with a post quoting Financial Express as saying Yum! Brands officials expect to have total India revenue of $1 billion by 2015.
Yum! Brands’ KFC chain has been the first U.S. restaurant chain to have major success in China through the “Taiwan Gang,” the Taiwan-born executives who helped Yum break into the China market.
Now No. 2 in the company hierarchy is Jing-Shyh “Sam” Su, 58, chairman of the China business.
In 2008, Su was paid $6.7 million in 2009 – second only to the $13.1 million paid to Novak!
In 2010, Yum made 36 percent of an estimated $2 billion operating profit from 3,700 KFC restaurants in China.
Yum! Brands strategy is to tap into the growing middle classes in the world’s two largest developing countries.
The question becomes, who does the company have in India who can work the same magic as Su? And which of its brands – KFC, Taco Bell or Pizza Hut – will lead the way?