- March 14, 2019 / 2 min readThe QSR chain is partnering with China s two biggest state oil giants to open franchise fast-food outlets at gas stations in the country
Yum! China Holdings that runs KFC in China is planning to open outlets at gas stations.
The QSR chain is partnering with China's two biggest state oil giants to open franchise fast-food outlets at gas stations in the country.
"It's something quite new for both of us, we're going to open some stores and figure out the economics, once we figure out the economics then we can be more specific on the financials," said Joey Wat, CEO, Yum China told Reuters in an interview after an investor day in Shanghai.
It is likely that KFC will be opening over 100 outlets that will be owned by Sinopec Corp and China National Petroleum Corporation (CNPC) over the next three years, Yum China said on Tuesday, without giving any financial details.
The CEO also added the company was adapting to changes in China's economy, whose growth has slowed to a 28-year low. For example, the company was rolling out more value promotions to meet demand from customers who were seeking more value-for-money deals.
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