Beijing Winter Olympics Picks Yum China as an Official Sponsor
Dou Shicong
DATE:  Jul 21 2020
/ SOURCE:  Yicai
Beijing Winter Olympics Picks Yum China as an Official Sponsor Beijing Winter Olympics Picks Yum China as an Official Sponsor

(Yicai Global) July 21 -- Yum China Holdings, the licensee of US retail food giant Yum! Brands in the Chinese mainland, has been chosen as an official sponsor of the Beijing 2022 Olympic and Paralympic Winter Games.

Yum China was named as the Official Retail Food Services Sponsor for the international sporting event to be held in the Chinese capital in two years, the Shanghai-based chain restaurant operator said in a statement yesterday.

A total of 32 companies have so far signed sponsorship deals with the Beijing Organizing Committee.

“Building on our established connection with young people, we hope to inspire and motivate increased participation in winter sports, and contribute to bringing the Olympic spirit to life,” Yum China Chief Executive Joey Wat said.

The company has also become an official sponsor of the Chinese Olympic Committee through 2024, giving it the rights to use the marks and imagery of the Beijing winter games as well as the symbols of the committee within the period, it added.

Yum China’s brands, which include KFC and Pizza Hut, will be on site at the Beijing venues, providing food and refreshments to visitors and athletes from around the world, the firm said.

Yum! Brands entered China 33 years ago when the first KFC outlet opened in Beijing in 1987. Yum China has exclusive rights on the mainland for KFC, Pizza Hut and Taco Bell, with a total of 9,295 restaurants in over 1,400 cities at the end of March.

Shares of Yum China [NYSE: YUMC] gained almost 1.2 percent in New York yesterday to close at USD53.16 each. The company’s stock price has increased nearly 11 percent so far this year.

Editor: Peter Thomas

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Keywords:   Yum China,Beijing 2022 Olympic and Paralympic Winter Games