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QSRs target India for growth
October 15, 2009
India is the new hot international growth property for quick-service restaurants. For example, Yum! Brands Inc. executives said in the company's recent quarterly earnings call that KFC is taking off in that country, and Taco Bell is preparing to open its first unit.
McDonald's Corp. opened its first location in India in New Dehli in 1996 and, as is typical with its international outlets, tailored the menu to local tastes. The top selling menu item in the country is the vegetarian mashed-potato McAloo Tikki burger, according to a story by Bloomberg. The chain's outlets in India offer no beef because the majority of residents are Hindus and revere cows and no pork in deference to the country's Muslims.
From Bloomberg:
McDonald's, the world's biggest restaurant company, is expanding in India as a middle class predicted to grow 10-fold by 2025 develops a taste for Western-style fast food. Sales are up 30 percent during the first nine months of the year, led by growth in smaller cities, said Vikram Baksh, managing director of McDonald's India.There are 170 outlets in India, and the Oak Brook, Illinois-based company and its local partners will invest 5 billion rupees ($108 million) to add 120 during the next three years, Bakshi said. By comparison, McDonald'shas 1,080 restaurants in China and plans to open 140 this year, down from the 175 it forecast before the global recession....
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