Burger King (parent company Restaurant Brands International,
Burger King's parent company noted in its press release that $150 million of the investment would go towards advertising to "fuel the flame." The remaining $250 million is earmarked for a "royal reset" to renovate stores with modern restaurant appliances, digital kiosks, and updated aesthetics.
According to Restaurant Brands International CEO Jose Cil, laying the groundwork for the company's latest modernization can be credited to Burger King President Tom Curtis.
"Over the past year, Tom has built a talented leadership team that has worked collaboratively with Burger King Franchisees to develop a multi-year plan to drive the performance of the system," said Jose Cil, CEO of Restaurant Brands International. "We believe now is the time to make a significant investment to accelerate the work given the quality of the team, focus of the plan, commitment of our Franchisees and the opportunity that clearly exists for our iconic brand to Reclaim the Flame and be the first choice for a high-quality meal, an exceptional experience, and a great value."
According to RBI, the vast majority of Burger King franchisees endorse the plan and are set to co-invest in better advertising and store renovations.
A Great Move That Came a Bit Late
Burger King as a brand has been on the decline in the US for some time, with same-store sales largely flat and consumers more interested in competitors that have mostly kept pace with rapidly changing trends.
While Burger King was coming up with one-off menu items and advertising gimmicks in the mid to late 2010s, competitors like McDonald's
The company has slowly begun to catch up to competitors, rolling out a rewards program like McDonald's, and deploying its own sandwich to fight in the chicken sandwich wars of 2021.
