Wallace (fast food chain)

Wallace
华莱士
Wallace, Fujian Food Co., Ltd.
Company typePrivately held company
Founded2000 (2000)
Headquarters
Taijiang District, Fuzhou, Fujian
,
China China
Number of locations
20,065

Fujian Wallace Food Co., Ltd.,(Chinese: 福建省华莱士食品股份有限公司),[1] doing business as Wallace (simplified Chinese: 华莱士; traditional Chinese: 華萊士; pinyin: Huáláishì), previously as CNHLS, is a fast food chain in China. Its head office is in Taijiang District, Fuzhou, Fujian.[2][3][4][5]

CNHLS's sales reached $407 million USD in 2010, an increase of 416% over its 2007 total.[6] In 2012 the company had about 3,000 restaurants, and this number grew to about 4,000 in 2013. The restaurant was No. 2 in the China Daily list of the "Top 10 fast-food chains in China".[7]

History

In January 2001, Hua Huaiyu and Hua Huaiqing, originally from Wenzhou, opened the first Wallace fast-food restaurant in Fuzhou, near Fuzhou Normal University. Initially, they mimicked the menu and prices of Western giants KFC and McDonald's, but customers preferred the original establishments. The brothers then launched a "Special 1-2-3 Price" promotion (1 yuan for a Coke, 2 yuan for chicken thighs, and 3 yuan for a hamburger), which doubled their sales.[8][9]

Since 2005, Wallace has rapidly expanded its affordable, Western-style fast-food chain, leasing small spaces in shopping malls and residential complexes, as well as around universities and colleges, while offering the lowest franchise fees. In 2010, Wallace sales reached $407 million, a 416% increase over 2007. By 2012, the company had approximately 3,000 chain restaurants, a number that increased to approximately 4,000 in 2013.[10][11]

In January 2014, the number of Wallace restaurants nationwide exceeded 4,800, surpassing KFC's 4,600 restaurants for the first time. The company's sales reached $600 million, but net profit remained low due to its pricing policy. In April 2016, Hua Lai Shi listed on the National Exchange of Securities and Quotations in Beijing (NEEQ). By the end of 2018, the number of Wallace restaurants had reached 10,000.[12]

In 2021, Hua Lai Shi ranked among the top ten largest restaurant chains in China. At the beginning of 2023, Wallace's number of establishments exceeded 20,000 (in terms of network size, the company ranked first in China, significantly surpassing its closest competitors, KFC and McDonald's).[13]

References

  1. ^ "cnhls.com" (Archive) Pagestats.info. Retrieved on March 14, 2014. "Registrant Organization ......... Wallace, Fujian Food Co., Ltd. Registrant Address .............. Fuzhou Taijiang tongde, Road 226, Palit Park, Building 13, the southern half of the three-tier"
  2. ^ "关于我们" (Archive) CNHLS. Retrieved on March 14, 2014. "总部位于福建省福州市[...]"
  3. ^ Home page. (). Wallace (CNHLS). March 24, 2007. Retrieved on March 14, 2014. "地址： 福州市台江区古街瀛洲路23号A座2层"
  4. ^ "联系我们" () CNHLS. May 23, 2006. Retrieved on March 14, 2014. "华莱士食品连锁机构 [...]地　址：福州市台江区古街瀛洲路23号A座2层"
  5. ^ "福州华莱士餐饮管理服务有限公司 单位编号： 5238749." China Job Bank. Retrieved on April 11, 2014. "单位地址： 福建省福州市台江区同德路226号同德园13号楼南半部三层（心家泊小区对面苍霞街道办事处三楼）"
  6. ^ "Fast food chicken chains in China ruffle feathers at KFC". Yahoo! News. 7 February 2012. Retrieved 1 August 2018. Between 2007 and 2010, sales at cnHLS grew a whopping 416 percent to be valued at $407 million in 2010.
  7. ^ "No 2 Hua Lai Shi" (Archive). China Daily. July 28, 2014. Retrieved on September 8, 2014.
  8. ^ "Fast food chicken chains in China ruffle feathers at KFC". Yahoo! News. Archived from the original on 2018-08-01. Retrieved 2023-09-24.
  9. ^ "Top 10 fast-food chains in China". China Daily. Archived from the original on 2014-09-08. Retrieved 2023-09-24.
  10. ^ ""肯德基山寨版"华莱士门店超4800家 年入6亿" (in Chinese). Winshang.
  11. ^ "Food Service - Hotel Restaurant Institutional" (PDF). United States Department of Agriculture. Archived (PDF) from the original on 2023-03-30. Retrieved 2023-09-24.
  12. ^ "《中国西式快餐品类发展报告2023》发布：西式快餐品类复苏势头明显" (in Chinese). PE daily. Archived from the original on 2023-02-03. Retrieved 2023-09-24.
  13. ^ "山寨西式快餐华莱士：卖的不是炸鸡是满足感" (in Chinese). SINA Corporation. Archived from the original on 2017-04-15. Retrieved 2023-09-24.
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