Myles Felt, vice president for international operation of the pizza restaurant chain Papa John's, said during a recent Chinese media interview that the company plans to double the number of its restaurants in China in three years, increasing from the current 155 to 300 restaurants.
Felt said at the seventh anniversary ceremony for Papa John's entry into the Chinese market that its new restaurants opened in the future will be mainly located in Chinese cities where the company already has its presence. However, it will also try to expand into new markets if there are better opportunities. At the same time, Papa John's will enhance its development strength to launch more new pizza products to meet the demands in the Chinese market.
Papa John's entered the Chinese market in 2003 and it currently has 155 restaurants in 32 Chinese cities. According to Felt, of the company's over 3,400 restaurants, more than 700 are opened in the markets outside the United States. Meanwhile, China has become its second largest market in the world, following its domestic U.S. pizza market.
As the world's third largest pizza company and the fastest growth pizza chain enterprise, Papa John's now has over 3,400 chain restaurants in 30 countries around the world.