American pizza delivery chain Papa John’s will add 500 locations in China over the next five years, Reuters reported. This will make China the company’s largest market outside the US, Papa John’s CFO David Flanery told reporters in Shanghai. China currently has 100 Papa John’s restaurants and is expected to contribute more than 20% of the company’s total revenue this year. The firm intends to open 40-50 restaurants in China this year, out of 190 new outlets planned globally. Papa John’s is ramping up expansion as it competes with rivals such as Pizza Hut and McDonald’s for a share of the country’s US$28 billion per year fast food market.
You must log in to post a comment.