KFC announced the location of its debut Myanmar outlet yesterday, as it gets closer to becoming the first major American fast-food chain to open in the country.
Its restaurant on Yangon’s Bogyoke Aung San Road, opposite Bogyoke Market and FMI Center, will be the first to sell its signature fried chicken. No opening date has yet been announced for the location.
“Our hope is for KFC to become a welcome respite from the hustle and bustle of downtown and a place where people can connect and bond,” said JR Ching, Yoma Strategic head of business development, in a press release yesterday.
KFC announced an agreement in October 2014 with Singapore-listed, Myanmar-focused Yoma Strategic Holdings to bring the restaurant chain to Myanmar.
Yoma Strategic plans to open several more locations in Yangon before the end of the year.
Mr Ching previously told The Myanmar Times it is also considering further expansion in the country at a later date.
He also said KFC will be an aspirational product, targeting the growing middle class, when it launches locally. KFC is particularly well-known for the 11 herbs and spices used in its chicken recipe.
KFC will face several competitors in the local market, including South Korean chain Lotteria, which opened its first Yangon outlet in 2013 and has also expanded to Mandalay.
KFC claims to be one of the world’s largest restaurant chains, with US$23 billion in global sales and more than 19,400 restaurants in 120 countries.
Source: Myanmar Times
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