31 Mar '16, 12pm

McDonald's to add more than 1,500 outlets in #China, #HongKong Korea

HONG KONG (REUTERS) - McDonald's said on Thursday (March 31) it planned to add more than 1,500 restaurants in China, Hong Kong and South Korea over the next five years as it focuses on high-growth markets to boost sales. The company also said it was looking for franchisee partners in those markets, where it already has more than 2,800 restaurants, most of them company-owned. China, Hong Kong and South Korea, along with a few other high-growth markets such as Russia, accounted for nearly a quarter of McDonald's total sales in 2015. McDonald's has a long-term plan to franchise 95 per cent of its restaurants worldwide. More than 80 per cent of its 36,000-plus restaurants are now operated by franchisees. The company converted about 470 company-owned restaurants to franchises last year. McDonald's said it was seeking partners who would "enable localised decisions on growth init...

Full article: http://www.straitstimes.com/asia/east-asia/mcdonalds-to-a...

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