SINGAPORE-LISTED Yoma Strategic has teamed up with New York-listed Yum! Brands to bring the first KFC restaurant to Myanmar in 2015, with Yoma as its franchise partner.
The duo announced their intentions on Monday morning.
KFC, a subsidiary of Yum! Brands, is one of the world's largest fast food restaurant chains, with US$23 billion in global sales and more than 18,000 restaurants in 118 countries worldwide. It is also among the first handful of "quick service restaurants" that have plans to enter the Myanmar market.
"Chicken is a staple protein in Myanmar and our people recognise the KFC brand and Colonel Sanders' secret Original Recipe of 11 herbs and spices ... Bringing KFC to Myanmar is an important step to achieving Yoma Strategic's goal in being a key player in the country's food and beverage sector," said Serge Pun, Yoma's executive chairman.
Micky Pant, CEO, KFC, cited Myanmar's emerging economy with a population of 50 million people as a key draw factor.