| NEW DELHI
NEW DELHI Nov 10 Yum Brands Inc (YUM.N), owner
of the KFC, Taco Bell and Pizza Hut fast-food chains, wants to
have 1,000 restaurants in India generating sales of $1 billion
by 2015, the head of its Indian operations said on Tuesday.
Niren Chaudhary would not disclose Yum's current sales in
India, but said it would invest about $150 million to quadruple
the number of restaurants, expand its footprint to about 60
cities and increase staff levels five times to about 50,000.
"Specifically by 2015, we want to be a billion dollar
company with 1,000 restaurants," Chaudhary, managing director
for Yum! Restaurants, India, told reporters at a World Economic
Forum event at the Indian capital.
"That's our dream."
Louisville, Kentucky-based Yum operates about 150 Pizza Hut
stores and about 65 KFCs in India, and has seen 2009 same-store
sales growth of more than 20 percent at Pizza Hut and over 6
percent in KFC, Chaudhary said.
The company is quite close to opening its first Taco Bell
restaurant in Bangalore and would be expanding the franchise to
other cities, he said.
Yum competes with McDonald's (MCD.N), Domino's, Pizza
Corner and local brands such as Nirulas and Haldiram in India's
organised food and beverage retail sector, which is growing at
around 25-30 percent annually.
Yum has tweaked it prices and menus to account for Indian
incomes, tastes and sensitivities.
"The eating-out market is $64 billion, out of which branded
food is less than 1 percent. So I think there is a massive
opportunity for all our brands," Chaudhary said.
(Editing by John Mair)