Word: mexico
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Cesar Martinez is no stranger to the kitchen. For the past six years, he has worked as a chef in French and Cuban restaurants in the U.S. Now back in his native Mexico, Martinez is finding himself in foreign territory: he has just landed a job as a wok chef at the first overseas P.F. Chang's outlet in Mexico City. "I've been reading books and doing research online," says Martinez, 38, "because I've never worked with Chinese food. I've never worked with...
...with business slowing down in the U.S. due to the recession and pressure from investors to increase sales, the company is now embarking on an expansion plan to sell its flavor of Chinese fare in several emerging markets. Over the next decade, it plans to open 30 restaurants in Mexico and another 34 in the Middle East, beginning with Kuwait City in December. It is also looking at several Asian countries. (See the top 10 food trends...
...first Mexican P.F. Chang's opened in a glitzy new mall in the capital's financial district. The chic restaurant, similar to other branches in the U.S., features large Chinese murals, terra-cotta warriors, mood lighting and a lengthy wine list. It's an anomaly in Mexico, where the bar for Chinese food is set low. In the handful of eateries that dot Mexico City's two-block Chinatown, it's common to start a meal with deep-fried wonton-dough sticks and a hefty bowl of neon-red sweet-and-sour sauce. "The biggest challenge will be performing...
...cheaper dishes and cooking for themselves at home. The stock fell to an eight-year low of $15 in November 2008 (it has since rebounded to roughly $30), and in the first three quarters of this year, revenue has dropped nearly 2% year over year. New overseas markets like Mexico are a gamble that will determine whether the chain continues to grow or stagnates in a domestic market where more diners are eating in and a tight lending environment is making it difficult to open new locations. The company's partners in Mexico and the Middle East are financing...
...pictures of Mexico's growing border fence...