September 29, 2020

KFC’s first outlet in Srinagar beats firm’s gross sales estimates in ten days

NEW DELHI: Yum Eating places-owned fast service model KFC’s first outlet in Srinagar which opened about 10 days again, has crushed the corporate’s inner gross sales estimates and reported gross sales much like retailer openings in metro cities, two officers immediately conscious of the event mentioned.

“The response in Srinagar has crushed inner gross sales estimates,” one of many officers mentioned. He requested to not be named.

KFC India’s spokesperson was unreachable for remark.

KFC has over 400 shops operational in India. Although it has two current shops in Jammu, that is the primary one in Srinagar, and among the many few international restaurant chains to have arrange an outlet within the metropolis.

The event comes at a time when dine-in companies throughout restaurant chains have been severely impacted and reported steep decline in gross sales throughout the nation, after the federal government introduced a nationwide lockdown beginning final week of March to curb the unfold of the coronavirus.

In August final 12 months, the Indian authorities abrogated Article 370 of the Structure that grants particular standing to Jammu and Kashmir.

Whereas malls and market locations started reopening with restrictions in numerous cities beginning June with lockdown curbs easing, shoppers have remained cautious of consuming out, which has resulted in restaurant chains relying solely on deliveries and to some extent on takeaways to maintain gross sales ticking.

Earlier this 12 months, Yum Eating places, Indian subsidiary of Yum Manufacturers, picked up minority stake in its largest franchise

associate RJ Corp-owned Devyani Worldwide Ltd (DIL), making it one of many first franchisees globally the place the restaurant firm has acquired fairness stake.