Red Lobster seafood chain slowly clawing its way into China, but hopes country will one day be its biggest market
- Seafood chain has two locations in China today – in Shanghai and in Beijing
- Red Lobster joins other US companies including Starbucks in dash into high-stakes market
Red Lobster, which only has two locations in China today, sees the country becoming its biggest overseas market.
The seafood chain, which separated from Darden Restaurants about five years ago, has locations in Beijing and Shanghai operated by Chinese partner FWM Restaurants and more are on the way, Red Lobster chief executive officer Kim Lopdrup said.
While he wouldn’t say how many new restaurants are planned, he said China will eventually be a larger market for the chain than Canada and Japan, which both include about two dozen locations.
“We do have some aggressive growth plans, but it all comes down to finding the right sites with appropriate rents,” Lopdrup said in an interview. “China is very likely to be our largest international market likely by a pretty wide margin over time.”
American restaurant chains are flocking to China in growing numbers as rising incomes there give more disposable income to millions of consumers.