McDonald’s coffee brand McCafé is planning to invest 2.5 billion yuan (approximately $381.6 million) in the Chinese coffee market over the next three years.
The investment will be used to open new coffee shops inside McDonald’s restaurants across China, in order to meet the country’s growing demand for coffee.
By 2023, McDonald’s expects to run more than 4,000 McCafé outlets on the Chinese mainland.
Phyllis Cheung, CEO of McDonald’s China, also added that the capital will be used to upgrade equipment, marketing and staff training.
As part of the investment, the fast food chain aims to open coffee shops in Beijing, Shanghai, Guangzhou and Shenzhen by the end of the year. This will be followed by an expansion of its business in seven other cities including Nanjing, Hangzhou and Xiamen.
McDonald’s first entered the Chinese mainland market in 1990 and currently operates more than 3,600 restaurants across the country, making it the fast food chain’s second largest market in the world.
© FoodBev Media Ltd 2020