A US based fried chicken chain, Golden Chick will soon be seen on the streets of Pakistan. As per their plan, three restaurants will be opened this year and the number will be raised to 30 in subsequent years.
Currently operational in 147 locations, the restaurant is known for serving fried chicken and other fast food items including sandwiches, golden tenders, rolls, shakes etc.
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Amongst the three initial restaurants, one would be opened in Lahore while two others would be set up in Karachi and a smaller town.
According to sources, the company has signed a ‘letter of intent’ with Crescent Star Foods (Pvt) Limited (CSF), a wholly-owned subsidiary of the Crescent Star Insurance Limited on Tuesday.
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Naim Anwar, the CEO of Crescent Insurance Ltd and its subsidiary, said the three restaurants with which the US chicken chain is to make first foray into the country would cost Rs300 million.
The restaurant would also introduce ‘roasted’ chicken (charga) in its Pakistani outlets.
Being amongst the top 20 chicken consumers and having a poultry consumption of 834,000 tonnes a year; Pakistan can be a prolific market for a fried chicken chain.
The CEO seems quite optimistic highlighting the fact that “With higher spending power of the middle and upper middle classes and the country’s demography that places youth of under 19 (prime consumers of fast food) to constitute an overwhelming 45pc of the entire population, the market share and margins of most players are assured.”
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Having more than 10 fast food franchise chains already operational in Pakistan, will this new entrant be able to make its space?
