Yum China Holdings
Yum China Holdings, the owner of KFC and Pizza Hut in China, have re-confirmed their aims of opening 1,300 stores across 2023.
Yum China Holdings had a 25% rise in revenue across the 2nd quarter.
Luckin Coffee
Luckin Coffee, the Chinesese coffee brand, have seen record sales and profits across the the second quarter. The brand had a net opening volume of 1,485 new units across April, May and June 2023 – this takes the count to 10,836 (7,188 company operated).
Marriott International
Hotel brand, Marriott, have increased their profit forecast for the year, driven, in part, by a return in demand within the Chinese market.
Other News:
Subway have previous signed a franchise agreement, the largest for the brand.
Tim Hortons announced their new store plan for the remainder of 2023.
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