Kentucky Fried Chicken’s expansionist designs on Myanmar will forge ahead in 2017, with branches set to open in Mandalay, Yangon and two yet-to-be-announced locations.
KFC Myanmar administration director JR Ching told The Myanmar Times that since the first KFC in Yangon opened in July 2015, there are now seven branches in the city. Three more are slated to open by the year’s end.
“The amount of money it costs to run a shop depends … It can be US$500,000 to $1 million,” he said.
Ingredients are sourced locally, he says. KFC’s main challenge is ensuring that the products sourced in Myanmar meet the company’s stringent international quality standards.
KFC is the first American fast food business to open in Myanmar. It entered the market following the inking of an agreement with Yoma Strategic Holdings in October 2014.
Yoma Strategic operates the KFC franchise in Myanmar, and recently announced revenue from the business of S$2.7 million (US$1.9 million) for the second quarter of the financial year.
Other international fast food chains like Pizza Hut and Burger King are also active in Myanmar.
Source: The Myanmar Times
