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| Taco Bell’s innovative marketing tactics have earned it recognition as one of the most innovative companies in the world. Sean Tresvant, CEO of Taco Bell spoke with Fast Company about the chain’s global growth. “We shouldn’t just be a great quick service restaurant brand, we should be a great global brand, period,” Tresvant said. “I put us in the same category as Google, Apple, Nike and Netflix. All the great brands in the world--we should desire to compete with them.” Under Tresvant’s leadership, Taco Bell has experienced significant growth, with same-store sales up by 5% in 2023. Looking ahead, Taco Bell aims to continue expanding its global footprint while staying true to its rebellious brand identity. |
| KFC U.K. and Ireland has introduced its inaugural lunchtime meal deal, priced at £5.49, featuring a main, crisps and a drink. Available weekdays until 3 pm, options include a Kentucky Twister Wrap or a Fillet Burger paired with Walkers MAX crisps and a beverage. The offer caters to busy commuters and office workers seeking a quick, affordable meal. KFC noted it aims to tap into the lunchtime market. |
| Pizza Hut China has introduced a new limited offer pizza priced at 39 RMB (5.42 USD), nearly half its usual cost, targeting the affordable pizza market amidst shifting consumer preferences towards “rational” consumption. Pizza Hut commands a significant 32.5% market share, leveraging its localization efforts and market research since its 1990 debut. To adapt, Pizza Hut plans to open 500 new stores annually, focusing on smaller satellite branches in city business districts for enhanced accessibility. |
| Taco Bell Canada is offering free Catina Soft Chicken Tacos on March 19 to celebrate the launch of its new Catina Chicken menu. Available from 2 to 4 pm local time at select locations across Canada, including Edmonton’s Taco Bell at 3431 Gateway Boulevard, taco enthusiasts can enjoy this limited-time offer. The Catina Chicken menu features a variety of options such as crispy tacos, burritos and quesadillas, all featuring seasoned chicken topped with Avocado Ranch sauce, lettuce, cabbage, cheese and pico de gallo. |
| How Yum! and the University of Louisville are revolutionizing franchising education |
Did you know that the global franchising economy is set to surpass $4.5 trillion by 2025? The University of Louisville's Yum! Center for Global Franchising Excellence, with the support of Yum!'s Unlocking Opportunity Initiative, is paving the way for aspiring franchisees by offering multiple levels of education, from undergraduate to executive. With the recent expansion and addition of the "Accelerating Growth" executive education programs, the Center is impacting more students and professionals than ever before, empowering them with the skills and knowledge to thrive in franchising. Explore the infographic to learn more about how Yum! and the University of Louisville are unlocking opportunity for future franchisees around the world. |  | (For Yum! Eyes Only) |
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| McDonald’s Corp. CEO Chris Kempczinski will take on the additional role of executive chairman as current chairman Enrique Hernandez Jr. retires after 28 years on the board. This move aligns with a trend where more S&P 500 companies are recombining the CEO and chairman roles. According to search firm Spencer Stuart, 59% of boards reported separate positions, up from 45% in 2013 and 16% in 1998. McDonald’s appointed Miles White as lead independent director and nominated Mike Hsu, CEO of Kimberly-Clark Corp., to join the board. |
| Chipotle’s board approved a 50-for-1 stock split, potentially one of the largest in NYSE history. This move aims to make shares more accessible to average investors by reducing the price per share. CFO Jack Hartung noted it’s the first split in Chipotle’s 30-year history, enhancing accessibility for both employees and investors. The split is subject to shareholder approval on June 6, with post-split shares expected to trade from June 26. Investors responded positively, with Chipotle’s stock rising nearly 5% in after-hours trading, coinciding with the company’s shares reaching all-time highs. |
| CosMc’s, McDonald’s beverage-focused spinoff, is opening its second location in Dallas/Fort Worth after a successful debut near Chicago. Addressing the “3 p.m. slump,” it offers a diverse menu including signature drinks, sandwiches, bites and more without needing a fryer. Customizable beverages like turmeric spiced latte and sour cherry energy burst accompany familiar McDonald’s items like McMuffins. The Dallas opening is part of a 10-location test with plans for eight more in Texas by mid-2024. |
| Subway is teaming up with McWin Restaurant Fund to expand its presence in France, the Czech Republic, Luxembourg and Belgium. McWin will manage nearly 400 existing Subway restaurants and open around 600 new ones over the next decade, aiming to more than double Subway’s footprint in France and Luxembourg. The partnership signals Subway’s strategic international expansion, focusing on enhancing guest experiences and modernizing operations. This move aligns with Subway’s plan to double its presence across Europe, seeking strong partnerships for growth. |
| Subway has struck a 10-year deal with PepsiCo, transitioning its U.S. locations to serve Pepsi products starting January 1, 2025. The deal streamlines Subway’s beverage and snack offerings under one provider, with franchisees gaining access to a broader selection, including Gatorade. While switching beverage contracts is uncommon among major chains, the move aligns with Subway’s efforts to revamp its business and boost sales. |
| Popeyes Louisiana Chicken has introduced a new honey-lemon-pepper flavor for its chicken wings, expanding its existing wing platform. The flavor, featuring black pepper for heat, launches on the app and website today and will hit restaurants on April 1. Initially offered at $5.99 for six pieces, the wings now come in six flavors, including the new addition, available in packs of 18 and 24 pieces. |
| In France, American fast food has become a favorite, with the nation ranking third in Europe for fast-food sales at 19 billion euros in 2023. Brands like McDonald’s and Burger King dominate, adapting to French society’s prioritization of convenience and affordability. McDonald’s, present since 1972, holds over 1,500 outlets. Burger King reentered in 2012 and ranks second. The industry saw a digital shift during the pandemic, with over 60% of Domino’s Pizza France orders placed online. |
| Wonder, a delivery-focused restaurant operator in the Northeastern U.S., secured $700 million in capital, including investments from existing and new shareholders. Founded by Marc Lore, the company plans to expand to 35 units by 2024 and 90 by 2025. Wonder transitioned from a food truck business to a food hall model in 2023. It achieved unit-level profitability, serving 30 restaurant concepts from one location with a 30-minute order-to-eat time. |
| Olive Garden, along with sister brands LongHorn Steakhouse and Cheddar’s Scratch Kitchen, saw increased traffic last year, attributed in part to earlier dining times. Olive Garden’s visits rose by over 4% on average, with a notable uptick during the Never Ending Pasta Bowl promotion. Early dining visits increased across all three brands, reflecting a broader trend of consumers dining earlier since the pandemic. Competitors like Carrabba’s Italian Grill are adapting to this trend by offering weekday lunch hours. |
| Jersey Mike’s Subs has revamped its website, jerseymikes.com, to provide a unified customer experience across all digital platforms. The redesigned website mirrors the mobile app’s beach vibe and offers streamlined order flow, a new delivery option, and access to promotional offers. Rich Hope, CMO of Jersey Mike’s, emphasized the importance of shaping digital decisions based on real-world experiences in stores. |
| Big Chicken, the celebrity-backed fast-casual chicken concept, is launching a nationwide Big Bracket Challenge coinciding with the BIG Tournament. Participants have the chance to win big prizes, including the opportunity to have a Big Chicken franchise built in their city, with Shaquille O’Neal working the register on opening day. Other prizes include swag boxes, gift cards and personalized video messages from O’Neal. |
| Marco’s Franchising, a pizza brand in the U.S., is expanding into Mexico City with a 50-unit master franchise deal. Led by experienced partners, the move is part of Marco’s international growth strategy for 2024, targeting markets like Latin America, the Middle East, Europe and Canada. With a focus on technology, innovation and quality, Marco’s aims to maximize franchisee profits while meeting modern consumer demands. |
| Presto, a struggling AI drive-thru voicebot supplier, has laid off 18% of its staff and raised $1.2 million in a stock offering to sustain operations until April 1. This marks the second round of layoffs in four months, aiming to save $3.1 million annually. Facing revenue declines, a net loss of $34 million and liquidity issues, the company is transitioning away from tableside ordering tablets to focus solely on voicebots. |
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