Fried chicken fans in China are about to get another option.
The new operator of Popeyes in the country shrugged off an economic slowdown to announce a major expansion on Monday, with plans to open 1,700 stores nationwide over the next decade.
At least 10 of the new outlets will launch in Shanghai in the next quarter alone, with the first opening last Saturday.
Shares of the operator, Shanghai-based Tims China (THCH), rose 3.6% in New York following the news. The company is best known as the operator of Tim Hortons coffee shops in China but recently bought the franchise for Popeyes in the country.
“We are thrilled to open our first Popeyes restaurant in China, a milestone in our longer-term strategy,” Tims China CEO Yongchen Lu said in a statement.
“Despite a challenging overall macroeconomic environment, food service retail sales have been a bright spot in China’s post-Covid recovery — one of the sectors that has rebounded strongly.”