SHANGHAI, Sept. 18, 2020
/PRNewswire/ -- Yum China Holdings, Inc. ("Yum China" or the "Company") (NYSE: YUMC and
HKEX: 9987), China's largest restaurant company in terms of 2019
system sales, have held a series of activities across China to mark
the 30th anniversary of Pizza Hut in the country. Pizza
Hut's anniversary celebrations kicked off in December 2019 and culminated on the evening of
September 10, when Shanghai's iconic Oriental Pearl Tower was
illuminated by a special light show narrating the 30-year history
of Pizza Hut in China. Similar
activities have also taken place at landmarks in Chongqing, Fuzhou, Harbin, Nanjing and Qingdao.
![30th anniversary light show at Shanghai’s Oriental Pearl Tower 30th anniversary light show at Shanghai’s Oriental Pearl Tower](https://mma.prnewswire.com/media/1276939/30th_anniversary_light_show_Shanghai_s_Oriental_Pearl_Tower.jpg)
"As one of Yum China's flagship
brands, Pizza Hut was the first Western pizza brand to enter China
and over the years has become Chinese people's leading choice for
pizza," said Joey Wat, Chief
Executive Officer of Yum China.
"It's been an incredible journey and thanks to our employees,
partners and loyal customers, Pizza Hut has been able to grow and
thrive in China. In the future,
with continued urbanization and consumption upgrading, I am
confident that Pizza Hut will capture further growth opportunities
and serve even more Chinese consumers."
To further commemorate the milestone, Pizza Hut has collaborated
with Seagull, the manufacturer of China's first domestically made
wristwatch, to launch branded commemorative watches. In addition,
Pizza Hut welcomed consumers to join the celebrations by launching
a special limited-time 30th anniversary all-you-can-eat promotion
at restaurants across China.
Since opening its first China location in Beijing in 1990, Pizza Hut has grown to become
the leading Western casual dining restaurant brand in China, both in terms of system sales and
number of restaurants. By the end of June
2020, the brand had over 2,200 restaurants in more than 500
cities across the country. Pizza Hut has also achieved remarkable
success in establishing digital ecosystem, membership recruitment
and customer experience upgrades. By the end of June 2020, Pizza Hut had more than 75 million
digital members and digital orders accounted for over 60% of sales
for the first half of 2020.
Pizza Hut's brand identity of Always Something New
demonstrates the brand's vision to stay fresh and relevant in a
constantly changing marketplace. This concept is visible across
Pizza Hut's new products, new and upgraded stores, enhanced dining
experiences, promotional activities and creative collaborations.
Pizza Hut launched more than 100 new and upgraded products each
year since 2018 and is constantly making breakthroughs in its
offline and online experience. Meanwhile, faced with the
unprecedented challenges of the Covid-19 pandemic, Pizza Hut
leveraged its deep market know-how to launch services that promoted
social distancing including contactless delivery and take-out
services and one-person dining options. In addition, in
February 2020, Pizza Hut introduced
an innovative new service model when it launched home delivery
"Ready to Cook" steaks to customers.
Throughout its 30 years in China, Pizza Hut has remained committed to
making a positive impact on society and giving back to the
communities in which it operates. For example, Pizza Hut's "Grow
Local Initiative" was launched in 2018 with the purpose of using
its strengths to improve the livelihoods of local farmers and
increase visibility of quality products from supported areas.
"Pizza Hut has grown alongside the Chinese market and witnessed
many exciting milestones. Our 30th anniversary is not
only a time to reflect on our achievements, but also an opportunity
to look towards the future with optimism and excitement," said
Jeff Kuai, General Manager of Pizza
Hut China. "Looking forward to the next 30 years, we will continue
to focus on great products, great service and great offline and
online experiences that keep our customers coming back for
more."
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in
mainland China. It has exclusive rights in mainland China to KFC,
China's leading quick-service restaurant brand, Pizza Hut, the
leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving
innovative Mexican-inspired food. Yum
China also owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii &
JOY concepts outright. Yum China
also partners with Lavazza to explore and develop the Lavazza
coffee shop concept in China. The
Company had 9,954 restaurants in over 1,400 cities and towns at the
end of June 2020. Yum
China ranked # 361 on the Fortune 500 list for 2020. In 2020,
Yum China was named to the Bloomberg
Gender-Equality Index and was certified as a Top Employer 2020 in
China by the Top Employers
Institute, both for the second consecutive year. For more
information, please visit http://ir.yumchina.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements generally can be identified by the fact that they do not
relate strictly to historical or current facts and by the use of
forward-looking words such as "expect," "expectation," "believe,"
"anticipate," "may," "could," "intend," "belief," "plan,"
"estimate," "target," "predict," "likely," "will," "should,"
"forecast," "outlook," "look forward to" or similar terminology.
These statements are based on current estimates and assumptions
made by us in light of our experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors that we believe are appropriate and
reasonable under the circumstances, but there can be no assurance
that such estimates and assumptions will prove to be correct.
Forward-looking statements include, without limitation, statements
regarding Pizza Hut's future strategies and business plans, and the
anticipated growth opportunities for Pizza Hut. Forward-looking
statements are not guarantees of performance and are inherently
subject to known and unknown risks and uncertainties that are
difficult to predict and could cause our actual results to differ
materially from those indicated by those statements. We cannot
assure you that any of our expectations, estimates or assumptions
will be achieved. The forward-looking statements included in this
press release are only made as of the date of this press release,
and we disclaim any obligation to publicly update any
forward-looking statement to reflect subsequent events or
circumstances, except as required by law. All forward-looking
statements should be evaluated with the understanding of their
inherent uncertainty. You should consult our filings with
the Securities and Exchange Commission (including the
information set forth under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations " in our Annual Report on Form 10-K and other
reports we file with the SEC) for additional detail about factors
that could affect our financial and other results.
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SOURCE Yum China Holdings, Inc.