Word: kfc
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...lunchtime in Qiandaohu, a tiny fishing and tourist town deep in China's coastal Zhejiang province. While visitors are off exploring the famous local lake and its 1,000 green islands, residents hang out at the new KFC?the only fast-food restaurant in a place better known for its freshwater shrimp and fish. Hu Hongyi, a 30-year-old accountant, brings his wife and 10-month-old son to the eatery every three or four days. "I like the flavors and it's reasonably priced," he says. Local high school student Wang Hongting, another KFC habitu?, says, "The food...
...China has often seemed a land of dashed dreams for foreign companies eager to sell to 1.3 billion mainland consumers. But for KFC, this frontier has proved unexpectedly bountiful. Colonel Sanders, the goateed (and quite dead) Southern gentleman who is KFC's founder and marketing icon, rules the country's fast-food roost. Since opening its first mainland outlet in Beijing in 1987, the fried-chicken chain has gone on to become the most recognized global brand among urban consumers in China, according to an ACNielsen survey in 1999. KFC says more than 2 million Chinese eat at its stores...
...People's Republic is proving to be the perfect antidote for sluggish growth in the company's principal American market, where the fast-food business is as saturated as deep-fryer fat. Yum has 5,500 KFC outlets in the U.S., and through most of 2003 those outlets that have been open for more than a year were reporting negative sales growth due to intense competition and consumers who are trying to cut down on fried foods. Among the company's Stateside woes, says Lehman Bros. analyst Mitchell Speiser, "service times are slow and the food isn't seen...
...China, where there are more than 900 KFC restaurants and at least one new branch opening every other day, the outlook is much sunnier. The mainland now constitutes about 15% of Yum's operating profits ($273 million in the third quarter of 2003) and accounts for approximately 40% of its international business, according to Speiser. And because China's population is about five times that of the U.S., the company figures this is just the corporate equivalent of an appetizer. "There should be tens of thousands of KFCs, Pizza Huts and Taco Bell Grandes here," says...
...championship in 1985, fans who resembled Tigers stars leaped one by one into the Dotonbori to resounding cheers. One problem: few Osakans were look-alikes for the team's 1.85 m, 95 kg American star Randy Bass. So they purloined a statue of portly Colonel Sanders from a nearby KFC and tossed that in the river. The Tigers have been cellar-dwellers ever since. If championships are awarded on the basis of deserving fans, the Tigers and the Red Sox should stand atop their respective baseball worlds. And then pigs will...