Taco Bell, the fast-food goliath serving Mexican food, is set to open more stores in Australia after the success of its trial store in Brisbane. Reportedly Collin Foods, that owns the Australian rights to Taco Bell and KFC, announced the expansion along with the news of the 21.7% profit increase.
In a statement released by the company, Collin Foods expressed elation over the acceptance of Taco Bell by Australian consumers. For the uninitiated, Taco Bell had opened a branch in Sydney in early 1980s and again in 1997 but had to withdraw both the times. The present success of the test store however, indicates a new phase for Taco Bell, say sources, and the company plans to further expand the chain of restaurants in the next 12 months.
Taco Bell, which boasts of 2 billion customers worldwide and 7,000 sites across USA, opened its first store in California in 1962.
An eminent senior industry analyst, Boa Vuong has been quoted by reliable sources to say that the fast food industry in Australia is extremely competitive and has lots of options which makes it difficult for fast food operators to stand out. He added that despite Taco Bell’s prior failures to launch in Australia, this time it may succeed as Australian consumers have come to embrace international cuisines.
Numerous other experts are of the opinion that due to the presence of several Mexican food restaurants in Australia, Taco Bell will once more struggle to make its mark in the country.
The rise of Taco Bell is however, expected to usher the decline of Sizzler restaurants, another chain owned by Collins Foods. According to Mr. Vuong, Sizzler has lost out to new types of services such as pop-up restaurants and food vans among which Sizzler failed to stand out.
Some speculations predict that the Sizzler stores will be turned into Taco Bell restaurants as has been done in Brisbane.