On October 2, 1987, the first KFC restaurant in China opened in Qianmen. Thus began her development history in this country with the largest population in the world. 1992 11, 1996 111, 2114 1111, 2117 2111. By February 4th, 2119, the number of KFC restaurants in China reached more than 2,511. According to company executives, KFC will open 111 stores in China every year during the Tenth Five-Year Plan period. We have to say that KFC has achieved great success in China.
in late September, 1986, KFC began to consider how to enter the most populous China market and explore the huge potential contained in this huge market. Although the prospect is optimistic, many problems also make KFC's decision makers feel headache and hesitant. For the world's largest chicken restaurant company, the China market in front of it is completely unfamiliar: can KFC's pure western flavor be accepted by China consumers? Developing China market requires not only technical resources, but also valuable management resources. In addition, it is impossible to remit a large amount of hard currency profits from China, even if it is at a moderate level. The most important thing is to choose a specific investment location in order to enter the China market. And this has great uncertainty. When the situation was not clear, KFC decided to conduct a more comprehensive and thorough investigation on the China market. The first question is: where should the first KFC store be located? This decision will have a dramatic impact on future profits, further development in other areas of China, and determination to invest in management resources. KFC compares the possibility of reducing risks with the potential benefits that may be obtained through investment, and considers that there was no other competitor in China at that time, which was the best time to enter. So, after balancing the possible risks and benefits, I decided to take Beijing as a starting point for the time being. Taking Beijing as the first choice for KFC to enter China has laid a solid foundation for KFC's success in China.
"Shoe Principle" means that the shoes that fit best are good shoes, so we should firmly grasp the localization strategy.