McDonald’s plans massive China expansion
McDonald’s has announced expansion plans for China, hoping to almost double its presence in the country within the next five years.
The plans will see China soon become McDonald’s largest market outside of the United States.
There are currently 2, 500 McDonald’s restaurants in China, a figure McDonald’s is aiming to increase to 4, 500 by 2022. Delivery will be a point of focus in the expansion with over 75 per cent of the restaurants to offer delivery services by 2022.
The expansion will be facilitated through a strategic partnership with Chinese holding company, CITIC, and US asset management company, The Carlyle Group.
McDonald’s Chief Executive Officer, Steve Easterbrook, said the partnership will allow for better localised decision-making.
“Mainland China and Hong Kong are leading the global system in capturing new consumer trends such as delivery and digitalisation and its driving strong performance and growth momentum,” Easterbrook said.
“I have great confidence in our new partnership to unlock the full growth potential of China.”
Chairman of the Board of Directors of the new McDonald’s China, Zhang Yichen, said the partnership will strengthen McDonald’s China’s entrepreneurial spirit.
“It will also help us ensure first-class customer service and food safety while accelerating our growth in mainland China and Hong Kong,” Yichen said.
“We believe this is a winning formula that fuses McDonald’s global quality standards and branding with CITIC and Carlyle’s extensive resources and market expertise in real estate, finance, supply chains, consumer & retail, and technology.”
The decision to focus on a China expansion comes despite President Donald Trump’s drive for US companies to focus on local investment and jobs.
- McDonald’s turnaround plan starting to pay off
- McDonald’s unfashionable fashion attracts criticism in US
- McDonald’s trials unique recruiting process
A television advertisement for coffee chain Muzz Buzz has been removed from the air after receiving ...
The US arm of Pepsi Co has launched a new premium bottled water brand designed to serve “as a source...
SumoSalad is on the hunt for new restaurant locations as part of a change in business strategy for t...
Woolworths has been testing rounded pricing in its supermarkets.
Unnecessarily avoiding gluten could be harming your heart says the authors behind a new study publis...
Freedom Foods has launched a new range of muesli products using the CSIRO developed BARLEYmax wholeg...
One third of all food that is produced is lost at some point across the food supply chain, according...
Doritos is venturing outside of the chips category, launching its first line of crackers, exclusive ...