Yellow Cab pizza eyes slice in $2-B China pie

Fried-chicken store chain operator Max’s Group Inc. (MGI) is banking on its pizza unit Yellow Cab to make inroads in China as the Chinese palate for Western food grows particularly for the pizza market, which is currently estimated to be worth $2 billion a year.

MGI has tapped JuYangYiTong, a member of China’s giant conglomerate Zhongfa Group, as partner in the entry of Yellow Cab to the Chinese market.

The introduction of Yellow Cab Pizza in China will be the first time since the late Chinese leader Deng Xiaoping allowed foreign products to enter the country in the 80s.

The food group’s latest venture will aim to take a slice in the $125-billion global pizza industry of which $2 billion is cornered by China, said Peter King, chief executive officer for international of MGI.

King said it is the best time to invest in China with its 1.4 billion people who are mostly acquiring a taste for Western food.

“In October we’re sure that its currency will be powerful, and we want to be there when it happens,” King said, referring to the induction of yuan (also called renminbi) as the fifth unit in the International Monetary Fund’s (IMF) basket of currencies called special drawing rights.

“There will be no difference especially in prices because we carefully look at our competitors price before we ventured in China,” explained Robert Trota, MGI president and chief executive officer.

Yellow Cab is known for its pizza, chicken and pasta. Because of having “yellow cab” in its name.

While much of the ingredients in the pizzas to be sold in China come from the Philippines, the cheese is purchased from either Australia or New Zealand.

The company’s delivery service uses Vespa scooters.In the Philippines, Yellow Cab first operated in the Philippines in April 2001. It also has stores in the United States, Malaysia and Qatar. JERRY MAGLUNOG