Burger King chases rivals in Asia’s Whopper market
Burger King, now making up for years of soggy growth and a decaying global business, is plotting an expansion into Asia in the coming half-decade to narrow the gap with arch-foe McDonald’s.
Chief executive John Chidsey told Reuters on Thursday that the world’s top hamburger chain after McDonald’s is confident of beating its target of 15% net profit growth in fiscal 2008, riding a resurgent brand and a nascent international drive.
The Miami-based firm hopes to open as many as 300 outlets across China in five years as part of a regional expansion that would help the company rake in half its revenue from non-U.S. markets in four to five years, he said in an interview.
Indeed, Burger King is finally returning to markets such as Japan, from which it withdrew years ago, pummelled by heated competition from the likes of Yum Brands’s KFC.
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