One-handedly built KFC from a country fried chicken shop to a global fast food chain giant. The well-known American entrepreneur John Brown (John Y. Brown, Jr) passed away.According to reports, on November 22, local time, Brown's family issued a statement on Tuesday announcing Brown's death at the age of 88.
Brown was quite legendary in his life. He was not only a catering tycoon, but also the owner of a famous NBA team and the governor of Kentucky.
It is reported that Brown and KFC "became connected" in the 1960s. In an event, he met KFC founder Sanders, and the two began to cooperate.
In 1960, KFC had 400 chain stores. In 1963, the revenue of KFC Co., Ltd. reached 300,000 a year.
In 1964, the 74-year-old Sandoz sold his property for US$2 million to an investment group composed of 29-year-old young lawyer John Brown and 60-year-old capitalist Jack Messer.
At that time, the company wanted to give him some shares, but Sandoz refused.Considering the influence of Colonel KFC, the company paid a lifetime annual salary of 40,000 US dollars (later increased to 75,000) to KFC for brand advertising.
In 1965, after Brown became the CEO of KFC, the company entered a period of rapid development.In 1969, KFC was successfully listed.In 1971, Brown sold his stake in KFC for a whopping $284 million.
Today, KFC has become the second largest fast food and largest fried chicken chain enterprise in the world, and has been among the top 100 global brands for many years in a row.