News

Panda Express rolls out major growth plan

November 28, 2010

Just last year, foodservice industry consultant Technomic called the Asian quick-service segment “under-realized.” Most Asian food business comes from full-service establishments, many independently owned.

But QSR-fast casual hybrid Panda Express may shift the trend a bit with its new plan to grow by 70 percent in the next five years.

According to the San Francisco Chronicle, the chain’s objective is to jump from its current 1,350 units to 2,300 by 2015.

Considering Panda Express’ recent success, including last year’s 14.6 percent growth, it may just be feasible.

From the story:

"Asian is the new Mexican," said Glenn Lunde, senior vice president of marketing at the closely held firm, which was founded in 1973 by Chinese immigrants Andrew Cherng and his father with one restaurant in Pasadena.