Buffett firm to open 1,000 ice cream stores in China

The US News (IANS) Friday 10th February, 2012

The International Dairy Queen (IDQ), part of American business mogul Warren Buffett's Berkshire Hathaway conglomerate, plans to open 1,000 ice cream stores in China, a media report said Friday.

"By the end of 2016, we aim to operate 2,000 stores outside America and Canada, with at least 1,000 located in China," John Gainor, IDQ president and chief executive officer, was quoted as saying by Shanghai Daily.

Gainor Thursday inaugurated the 500th Chinese store in Shanghai.

Since 2005, the ice cream chain based in Minneapolis, Minnesota, has been accelerating its China expansion, which is now only second to North America.

The Chinese frozen food industry has witnessed an annual growth of over 15 percent since the 1990s. Revenue earned by the ice cream market this year is expected to exceed 40 billion yuan (over $6 billion).

The IDQ has more than 5,700 locations operating throughout the US, Canada and 22 other countries. The company was founded in 1940.

Share this article:
  • Google
  • Twitter
  • Facebook
  • LinkedIn
  • Digg
Back to The US News

Comments

  • No comments yet for this story

    • Have your say

    • CAPTCHA Image

    • By submitting your comment you agree to our terms and conditions

    Featured Story

    G-8 to renew focus on food security through private sector investment

    G-8 to renew focus on food security through private sector investment

    WASHINGTON - Leaders of the world's industrial powers Friday turned to the private sector to help fight hunger and malnutrition for up to a billion people, with US President Barack ...

    Record Your Vote

    Do you agree with U.S. President Barack Obama's support for gay marriage?

    View results

    On Facebook

    Did I hear right?

    Four days ago marked two decades since Ratko Mladic became the commander of the main staff of the army of Republika Srpska - the VRS. On that day, Mladic began his full participation in a criminal endeavour that was already in progress. On that day, he assumed the mantle of realising through military might the criminal goals of ethnically cleansing much of Bosnia. On that day he commenced his direct involvement in serious international crimes.

    Dermot Groome

    The prosecuting counsel of the War Crimes tribunal convened to hear charges against Gen. Ratko Mladic was making his opening comments at the hearing.