YUM! BRAND INC, a Kentucky-based global leading fast-food company, yesterday said it would refocus on expanding its Taco Bell business in Southeast Asia.
The first Taco Bell restaurant in Thailand will open at the Mercury Ville mall in Bangkok tomorrow. In partnership with Siam Taco Co Ltd, the company aims to open 40 restaurants in Thailand over the next five years.
Thailand will be the first country for the relaunch of the Mexican-inspired quick service restaurant (QSR) brand in Asean after being paused for 10 years.
Taco Bell International president Liz Williams said that Taco Bell had opened its first restaurant in Southeast Asia about 10 years ago in the Philippines.
After 10 years, the company has relaunched the brand in the region, with Thailand chosen as the first country for the expansion.
Taco Bell Corp, a subsidiary of Yum! Brands Inc, is the world’s leading Mexican-inspired QSR brand. Taco Bell serves made-to-order and customisable tacos and burritos and other specialities. The company claims it serves 42 million customers weekly across the globe. The company said currently more than 450 Taco Bell restaurants operate across 28 countries outside the United States. The company and its franchisees operate more than 7,000 restaurants in the US alone.
Taco Bell is entering into a partnership with franchisee Siam Taco Co Ltd, which is a joint venture between Thoresen Thai Agencies and experienced food and beverage operators, the Mahagitsiri family.
“Thailand is one of the most vibrant countries in the world, so we are very excited to open and continue to grow. Over the years, we have seen a lot of demand in Thailand for Taco Bell, through social media and fans asking us to open in the country,” Williams said. “We feel given the demographic, it’s a perfect market to launch Taco Bell in a big way in Southeast Asia. In our research, we found fans loved the spice levels, types of spices we use, and the flavours, so it was a perfect match for the brand,” she added.
“Asia Pacific presents the biggest opportunity for international growth. The business model is ready for expansion across our key market. For example, India is our fastest-growing market outside the US. And we have new markets in the region we’re looking to enter over the next few years,” she said.
TTA president and chief executive Chalermchai Mahagitsiri said: “Our family fell in love with Taco Bell while in the US, and vowed to bring the experience to Thailand one day. Following our recent success in the acquisition of Pizza Hut from the same franchisor, Yum! Brands Inc and the great partnership thereon, we are very confident Taco Bell will be a great success in Thailand.