Media365
For Yum China CEO Joey Wat, success in the mainland’s vast but fierce market does not hinge only on being a local or international fast-food brand.
“I personally have huge respect for many local brands,” she said in November. “Chinese players are innovating a lot under the leadership of their founders. We fully understand that this is a cutthroat market.”
Wat admitted to being a fan of some mainland restaurant chains whose founders remained pivotal in strategic planning and daily operations. However, Wat said she was comfortable with the term “learner” as the fast-food giant further promoted its chicken burgers and pizzas.
KFC’s food was viewed as luxury cuisine by Chinese consumers when the brand entered the mainland in 1987. A KFC meal then could cost one-third of a daily wage-earner’s pay.
Yum China is also the operator of Taco Bell, Little Sheep, Lavazza and Huang Ji Huang on the mainland.
