YUM To Double Taco Bell's Restaurant Openings Overseas

Yum! Brands Inc. YUM is finally going big with Taco Bell, with plans to double its restaurant openings overseas. Taco Bell's international presence is still minimal in comparison to Yum's other brands, Pizza Hut and KFC, both having thousands of locations operating worldwide. Yum Brands fell 1.6 percent to $72.63 on Thursday. With the separation of Yum Brands and its China unit, Yum China will pay a 3 percent royalty fee to its former parent for the exclusive brand rights to sell Taco Bell, KFC, and Pizza Hut, which isn't yet established in China. Nearly 280 locations will be expanded abroad, putting the Mexican-themed chain number at 1,000 in 2020. Melissa Lora, Taco Bell's president of international markets, stated that Taco Bell is doubling its international restaurant openings this year to about 40 from fewer than 20 in 2014. Lora announced that even more new restaurants are being planned for next year. Last year, Yum Brands said it wanted to reach 1,550 international restaurants by 2023. Taco Bell first opened in 1977, with its first location outside the United States in Guam. The chain has expanded in various in countries including the United Kingdom, South Korea, Spain and most recently Japan. This month, Taco Bell is set to open its second location in Japan. The restaurant will serve breakfast due to its location at nearby office buildings. Social media has also been a strong contributor to helping Taco Bell reach its customers abroad. The chain currently markets through platforms such as its photo-sharing app. Social media is being leveraged by the chain to help its consumers better understand what the food is, what the ingredients are, or how they can order the food. Yum Brand's confirmed its full-year 2015 outlook for flat to low-single-digit earnings per share growth.