KFC enters Kyrgyz market, planning to open up to 10 restaurants
MOSCOW. Sept 26 (Interfax) - Fast food chain KFC has entered the Kyrgyz market and is planning to open up to 10 restaurants, the company said in a press release.
The first restaurant was opened in Bishkek and opened its doors to customers on June 29. Kyrgyzstan is the seventh CIS market where KFC has established a presence outside of Russia. A second restaurant is scheduled to be opened in Bishkek in early 2018.
In the mid-term, KFC is planning to open up to 10 restaurants in Bishkek and in the country's southern region.
The first restaurant was opened by the group Food Dream - KFC's franchising partner in Kyrgyzstan.
KFC Russia and CIS CEO Raisa Polyakova was cited as saying in a statement that "Russia and CIS is one of the fastest growing development regions for KFC." "Currently, over 650 restaurants have been opened in Russia and CIS: 576 in Russia and 79 in the CIS," she said.
As of September 26, 655 KFC restaurants are operating in Russia and the CIS: 576 in Russia, 38 in Kazakhstan, 11 in Belarus, 11 in Ukraine, 7 in Azerbaijan, 7 in Armenia, 4 in Georgia and 1 in Kyrgyzstan.
The KFC brand belongs to U.S. restaurant operator Yum! Brands Inc., which formed a strategic alliance with Rostik Group, owned by Rosinter Restaurants, in 2005 to develop the Rostik's-KFC chain. In 2006, Rostik's-KFC became a separate business unit of the Russian group. Yum! Brands bought the Russian fast food chain Rostik's-KFC in 2010 and in 2011 began converting the restaurants to the KFC brand.
According to the SPARK-Interfax system, Yum Restaurants Russia LLC increased revenue 18.2 billion rubles in 2016, from 13.2 billion rubles in 2015. The company had a net profit of 1.557 billion rubles last year, compared to a net loss of 1.263 billion rubles in 2015.