By 2014, many Africans will know what the Colonel’s Secret Recipe tastes like. Yum! Brands Inc. is hoping to double its KFC unit count – to 1,200 – on the continent by 2014.
The Louisville, Ky.-based company projects that KFC will become a nearly $2 billion brand in Africa within the next four years, and contribute a profit of more than $100 million to the company’s international division.
Yum! Brands’ international division does not include China, which is autonomous.
Yum!’s chairman and CEO David C. Novak told attendees at the investor-analyst conference that Africa has “tremendous opportunity” for the company. KFC already has a 600-unit strong footprint in South Africa, where it has been repeatedly named quick-service restaurant chain of the year.
The expansion plan – which will entail an investment bill of about $500 million – includes openings in Nigeria, Ghana, Angola and Zambia.
Although KFC has continued to affect Yum! Brands’ U.S. sales, the brand is making a splash globally, particularly with imminent expansion plans in the United Kingdom and India.
Yum! Brands, which also includes Pizza Hut, Taco Bell, Long John Silver's and A&W All-American Food, also is anticipating a KFC growth spurt in Vietnam, Russia and Pakistan.
Additionally, by 2015, Yum! predicts its strong presence in China will account for about three-quarters of its profits.
