Latest Developments in the Restaurant Industry: Starbucks China's New Chief Growth Officer, Brewery Concept Sale, Meal Deal Battle, and More
The recent updates in the restaurant industry, including Starbucks China's strategic move, SPB Hospitality's brewery concept sale, Chili's and Applebee's meal deal battle, and 7 Brew's new Chief Marketing Officer.
Photo by Shaolong Duan on Unsplash
Photo by Shaolong Duan on Unsplash
Starbucks China's Strategic Move with Chief Growth Officer
Starbucks China has recently appointed Tony Yang as its first chief growth officer, signaling a strategic shift to enhance performance in the intensely competitive market. With Starbucks China being the second-largest market for the coffee giant, the move highlights the company's focus on driving growth and innovation amidst stiff competition, particularly from brands like Luckin Coffee.
Photo by Shaolong Duan on Unsplash
SPB Hospitality's Brewery Concept Sale
In a significant business move, SPB Hospitality, the owner of various restaurant brands, has sold a group of brewery concepts acquired in 2020 to Kelly Companies of Southern California. This sale includes popular breweries like Rock Bottom and Gordon Biersch, comprising a total of 16 locations. The transaction showcases SPB Hospitality's strategic realignment and focus on core operations within the evolving restaurant landscape.
Photo by Shaolong Duan on Unsplash
Meal Deal Battle: Chili's vs. Applebee's
A fierce meal deal competition has emerged between Chili's and Applebee's, with each offering enticing deals to attract customers. Chili's $10.99 3 for Me meal deal has been instrumental in its recent success, leading to a shift in market share from Applebee's. In response, Applebee's has launched its own competitive deal, the Really Big Meal Deal priced at $9.99, setting the stage for an exciting battle between the two restaurant giants.
7 Brew's Strategic Move with Chief Marketing Officer
7 Brew has taken a significant step by appointing Nick Chavez, a former KFC executive, as its first-ever chief marketing officer. With a wealth of experience from KFC, Nintendo, and Yahoo, Chavez brings a strong marketing background to drive 7 Brew's branding and growth strategies. This strategic appointment underlines 7 Brew's commitment to innovation and expansion in an increasingly competitive market.