Press Trust of India / Chicago Apr 24, 2009, 11:47 IST
Yum Brands, the operator of Pizza Hut and KFC, today said it will introduce its Mexican-style fast-food restaurant chain 'Taco Bell' in the Indian market later this year, besides continuing to make investments to grow its business in the country.
"Optimistic and excited" about Taco Bell's launch in India, Yum Chairman and Chief Executive David Novak said the food chain fits well in the Indian market given the variety of vegetarian and spicy food it has to offer.
"We think Taco Bell may have the highest degree of opportunity in India because of the great vegetarian products and spiciness of the food, which we can even modify to be more relevant to the Indian taste," Novak said in a conference call with analysts.
He said the company's international division -- Yum! Restaurants International -- is making "great progress in emerging markets like India".
Novak ruled out the possibility of adopting in India "an equity-only" model, one that it uses to operate stores in China. "We are very well prepared to invest equity in both KFC and Taco Bell but at the same time, we think we will have a balance between equity and franchise long-term in India,"
Yum would invest in growth markets like India and France, "where we are building long-term business".
The US-based company currently has about 140 Pizza Huts and over 45 KFCs across India.
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