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International Dairy Queen, Inc. (IDQ) and Shanghai-based franchise ownership company CFB Group plan to escalate their culinary impact in China by opening 180 food-centric DQ® restaurants by 2034. This move supports IDQ's international growth strategy, catering to the Chinese market's rising demand for hot food menu items.
The strategic decision to introduce food-centric restaurants in China aligns with IDQ's international growth strategy. Nicolas Boudet, the Chief Operating Officer, International, at International Dairy Queen, highlighted the significance of this move in capturing the rapidly expanding market of China. He also emphasized that CFB Group will be not only the first franchise group to open food-centric DQ restaurants in China but also the only one to own food-centric restaurants in Asia.
CFB Group and International Dairy Queen have a proven track record of success in the Chinese market. Alan Hsu, the CEO of CFB Group, mentioned the fruitful collaboration during the past two decades, which has made the DQ brand one of the best-performing quick-service restaurant brands in China. However, the focus is now on innovation and product development. The goal is to cater to Chinese consumers by delivering hot food menu items they crave. This strategic shift seeks to position DQ restaurants as leaders in balanced hot food and treats in China.
With over 1,000 DQ restaurants already in Mainland China, CFB Group has committed to opening 600 treat-centric DQ restaurants by 2030. Out of these, 180 will be food-centric DQ restaurants opened by 2034. This expansion reflects the tremendous potential and growth prospects in the Chinese market, which currently stands alongside the U.S. and Canada as one of the largest markets for IDQ.
International Dairy Queen, Inc., headquartered in Minneapolis, Minnesota, oversees the operations of American Dairy Queen Corporation and Dairy Queen Canada, Inc. As a Berkshire Hathaway, Inc. subsidiary, IDQ is part of a well-established global network of more than 7,000 restaurants across 20 countries.
CFB Group, based in Shanghai, licenses or owns five restaurant brands in China, showcasing a diverse range of Western and Chinese-style food to cater to the varied needs of Chinese consumers.
This partnership between IDQ and CFB Group represents a remarkable opportunity further to expand the presence of food-centric DQ restaurants in China. It is set to create a buzz in the vibrant Chinese culinary scene.
