There are many companies and co-operations that are now conquering the present world. Anything that you can think of has been ventured into and conquered. The transport industry, energy industry, agriculture industry, and many others have a certain group of executives calling all the shots. The fast-food industry is also very wide, with many companies venturing into specific products.
An example of such companies is the Coca-Cola Company, which has dominated the soda industry. Big names such as Heineken and Budweiser have dominated the beer industry. On the other hand, the energy drink industry has been dominated, Red Bull. In the fast-food industry, there are many big companies that are on top, many of them selling their products all over the world, such as Pizza Hut.
Pizza Hut is an American restaurant chain and international franchise that was founded in 1958 in Wichita, Kansas, by Dan and Frank Carney. The company is a subsidiary of Yum! Brands, Inc., one of the largest restaurant companies in the world. The company focuses on Italian and American cuisine menus, including pizza and pasta, as well as side dishes and desserts.
Pizza Hut has 18,703 restaurants worldwide as of the 31st of December in 2019, making it the world’s largest pizza chain in terms of locations. Pizza Hut is one of the biggest fast-food brands with a big market all around the world. The company is a favorite for a lot of people all over the world.
Inception
Pizza Hut was founded in June 1958 by two Wichita State University students, brothers Dan and Frank Corney. Six months after the opening of the first location, they opened a second location, and within a year, they had six Pizza Hut locations, and in 1959, they began franchising.
George Lindstrom, a Chicago architect, designed the unique Pizza Hut building style in 1963. In 1977, Pizza Hut was acquired by PepsiCo, and in the 30th of May in 1997, Pizza Hut together with Taco Bell and Kentucky Fried Chicken were spun off by PepsiCo and became part of a new company, Tricon Global Restaurants, Inc., which assumed the name, Yum! Brands on May 22, 2002.
Before closing in 2015, the oldest continuously operating Pizza Hut was in Manhattan, Kansas, in a shopping and tavern district known as Aggieville near Kansas State University. The franchise has stores in very many countries in the world with appearances in North and South America, all over Europe, many countries in Asia, and also a few countries in Africa and Australia.
The company announced a rebrand that began on November 19, 2014, in order to increase sales, which were dropping. This rebranding included the flavoring of the crust and introducing 11 new specialty pizzas. This also led to the refreshing of the uniforms of their employees. In 2017, the company was voted number 24 in the list of 200 Most Influential Brands in the World.
On the 25th and 27th of June, in 2019, Pizza Hut reported that they were bringing back the old logo with the red roof, which was used from 1967 to 1999. Pizza Hut is split into several different restaurant formats: the original family-style dine-in locations, storefront delivery, and carry-out locations; and hybrid locations that have carry-out and other services.
Pizza Hut experimented with a lot of different concepts with many other companies, such as Applegate’s Landing. The company has not faced any major failures along their path to a lot of success. Although on August 7, 2019, Pizza Hut announced its intention to close about five hundred of its 7,496 dine-in restaurants in the USA, by the middle of 2021.
Evolution
Pizza Hut grew to be one of the biggest fast-food franchises in the world. The company’s idea of combining American and Italian cuisine has attracted the attention of many people around the world. The franchise is prided to be the largest pizza-related fast-food franchise in the world, in terms of locations. The company has grown remarkably fast, especially from its humble beginnings in Wichita, Kansas. The company now boasts a worldwide reach and is also making a lot of money, every businessman’s dreams.
Awards & Achievements
The company has grown very fast and has achieved a lot of success. Apart from the monetary reward received from the success of the company, the company has also received a lot of awards for the achievements that they have had. The awards are as follows:
- Two gold awards and one silver Awards at the Inaugural Loyalty and Engagement Awards.
- PAPA Industry Awards Pizza Restaurant Chain of the Year in 2018.
- DADI Awards Best Use of Social Media in 2018.
Net Worth of Pizza Hut in 2024
This multi-national company has grown very fast because of the uniqueness of the product that they produce. The company is one of the most popular fast-food franchise with an admirable net worth. As of April 2024, the company has a net worth of about $810 billion. Such a net worth comes from the fortunate earnings the company has made through the sales of their delicious food.
Pizza Hut is a very admirable company all over the world with worldwide recognition. The company sells some of the best Italian and American cuisines in the world. The company also offers employment to thousands of people all over the world, and its success story has inspired many young entrepreneurs all over the world.