LOUISVILLE, KY, May 29, 2013 – Yum! Brands, Inc. (NYSE: YUM) today announced the grand opening of the first KFC in Mongolia by its international division, Yum! Restaurants International (YRI) in conjunction with franchise partner, Tavan Bogd Group. The introduction of the first KFC in Mongolia reflects the extreme reach of the KFC Brand and the company’s strategy of staying the course with global expansion in emerging markets.
“KFC is now in nearly every corner of the world,” said Micky Pant, CEO, Yum! Restaurants International. “In a world that’s connected more than ever, customers are craving brands like KFC, even in previously remote areas, such as Mongolia. We’re excited to work with such a well-respected franchisee to bring the taste of KFC to the country.”
The new KFC, located in the capital city of Ulaanbaatar, is Mongolia’s first experience with the world’s favorite chicken restaurant, offering Colonel Sanders’ secret Original Recipe of 11 herbs and spices. The KFC Mongolia menu will feature Original Recipe chicken, popcorn chicken, the Original Recipe burger, Zingers, Twisters, salads, mashed potatoes and coleslaw and will expand to include additional items in the future.
“As a franchisee of KFC, we intend to continue KFC’s long-tradition of generosity and hospitality for all,” said Hulan D., CEO, Tavan Bogd Foods. “We’re proud to deliver abundant, craveable meals, freshly prepared in-store every hour, every day, by specially trained cooks to Mongolians.”
Locally owned and operated, the KFC in Ulaanbaatar is the first of the franchise group’s five planned to open this year. Tavan Bogd Foods plans to open 15 more restaurants over the next five years including the first drive-thru service.
Yum! Restaurants International has approximately 14,700 restaurants outside of the U.S., China and India. One of Yum! Brands’ four key business strategies is to drive aggressive international expansion and build strong brands everywhere.
Yum! Brands, Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system units with more than 39,000 KFC, Pizza Hut and Taco Bell restaurants in more than 130 countries and territories and 1.5 million associates. Yum! is ranked #201 on the FORTUNE 500 list, with revenues of more than $13 billion in 2012. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opened more than five new restaurants each day of the year, making it a leader in international retail development. The Company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving and consistent shareholder returns.
The Tavan Bogd Group is a privately-owned Mongolian conglomerate with strategically diversified business interests. Tavan Bogd manages leading businesses and brands in trade and service, manufacturing, tourism and hospitality, mining equipment supply, and banking. Its subsidiaries and affiliated companies such as Khan Bank, Gobi Cashmere, Ulaanbaatar Flour, Kempinski Khan Palace Hotel and many others are market leaders in their respective business sectors. Tavan Bogd is also the distributor of other well-known brands, including of Volkswagen, Hitachi Construction Machinery, Yokohama, Bridgestone, Total, Colgate & Palmolive, Unicharm, Avon, l’Occitane, LG Household & Health Care, XEROX, FujiFilm, Heinz, Advance Agro and Lotte.