Wendy Zhang/ Shanghai Daily news
The Burger King Corporation, the world's second-largest fast food restaurant
chain, opens an outlet in Shanghai today, the first of its kind on the Chinese
mainland, eastday.com reported.
The store, located at the business hub of
Jing'an District, will compete with the other two fast-food giants KFC and
McDonald's.
"We have been preparing for a year before entering the Chinese
market, such as making surveys of the market, culture and consumers' habits,"
said Greg Brenneman, Board Director and CEO of Burger King Corporation.
They
will adopt a direct-sales model to open ten outlets in Shanghai within a year,
he said, adding that 50 percent of the products on offer are designed
specifically for Chinese consumers.
"If we can achieve profitability in
Shanghai, we will tap the East China market through franchising, but for now our
initial aim is to gain consumer acceptance as quickly as possible," he
stressed.
To date, 90 percent of Burger King's 11,000 restaurant outlets in
65 countries and regions are franchises. It boasted a global business revenue of
US$11.3 billion last year.