Panda Restaurant Group
 | |
| Private | |
| Genre | Chinese and Japanese restaurants |
| Founded | 1973 |
| Founder | Andrew Cherng |
| Headquarters | 1683 Walnut Grove Avenue, Rosemead, California 91770 U.S. (626-799-9898), Rosemead, California |
Number of locations | 2,000+ |
Area served | 43 U.S. states, Puerto Rico, and Mexico |
Key people |
Andrew Cherng, Chairman & Co-CEO Peggy Cherng, Co-Chairman & Co-CEO |
| Revenue | $3.0+ billion (2017)[1] |
| Owner | Cherng family |
Number of employees | 30,000 |
| Website | http://www.pandarg.com/ |
Panda Restaurant Group, Inc., parent company of Panda Inn, Panda Express and Hibachi-San, was founded by Andrew and Peggy Tsiang Cherng [2] and Andrew's father, Master Chef Ming-Tsai Cherng, the family originating in the Yangzhou region of China's Jiangsu province. They started their first Panda Inn restaurant in 1973 in Pasadena, California. The group has its headquarters in Rosemead, California.
Andrew Cherng, age 70, and his wife Peggy Tsiang Cherng met at Baker University in Baldwin City, Kansas.[3] Peggy Cherng went on to receive her B.S. degree in Mathematics from Oregon State University in 1971 and a Ph.D. in Electrical Engineering from the University of Missouri.The company debuted on Forbes' 2016 edition of America Largest Private Companies[4]
The Cherngs invest their personal wealth out of their family office, the Cherng Family Trust.
Companies
The Panda Restaurant Group includes Panda Express, Panda Inn, and Hibachi-San.
Panda Express, the most popular, has over 2,000 locations as of 2017, making it the largest Chinese fast food chain in the United States.
Panda Inn, a sit-down restaurant chain, has 6 locations, all of which are in California, plus Wasabi, a Japanese concept.[5]
Panda Group has been aggressively supporting popular Asian chains by introducing them in the American market. Uncle Tetsu, Yaki Yan, Pieology and Ippudo are all concepts supported by Panda Group.
Philanthropy
In July 2017, the company pledged $10 million to the Children's Hospital Los Angeles, where the sixth floor will be renamed the Panda Express Floor.[6]
References
- ↑ "For Panda Express Owners, It's About Family". NYTimes.com.
- ↑ Jennings, Lisa, "Having words with Peggy Tsiang Cherng: chief executive and co-chair, Panda Restaurant Group", Nation's Restaurant News, August 1, 2005
- ↑ "Cherngs honored for contributions in L.A. area", Baker Pride alumni magazine, Baker University, Kansas, Spring 2008 issue.
- ↑ "2016 Private Company Newcomers". Forbes.com. Retrieved 2017-07-22.
- ↑ "Locations". Panda Inn. Retrieved 2017-07-22.
- ↑ "Panda Express Makes $10M Pledge To Children's Hospital Los Angeles" (PDF). The Beverly Hills Courier. July 21, 2017. pp. 1, 5. Retrieved July 22, 2017.
Further reading
- Bernstein, Charles, 'Manchu Leads the Working Race,' Restaurants & Institutions, August 1, 1994, p. 30.
- Cebrzynski, Gregg, 'Panda Express Breaks TV Ad Campaign as Test to Raise Brand Awareness,' Nation's Restaurant News, August 9, 1999, p. 11.
- Farkas, David, 'Fast and Friendly,' Chain Leader, March 2000, p. 72.
- Glover, Kara, 'Success on Oriental (Food) Express,' Los Angeles Business Journal, September 25, 1995, p. 21.
- Leibowitz, Ed, "The Tao of Panda Express: The Chinese food chain’s success story—how a single outlet in the Glendale Galleria grew to 1,800 locations worldwide—begins with one secret ingredient: owners who care", LA Magazine, April 20, 2015
- Marchetti, Michele, and Alisson, Lucas, 'Creating Panda-monium,' Sales & Marketing Management, January 1996, p. 14.
- Martin, Richard, 'Panda Express: Bullish about the Bear,' Nation's Restaurant News, May 16, 1994, p. 86.
- ------, 'Top Chi-Chi's, El Torito Execs Tackle Panda Push,' Nation's Restaurant News, August 7, 1995, p. 18
- Walkup, Carolyn, 'Panda Express Promo Targets Takeout Business,' Nation's Restaurant News, February 28, 1994, p. 7.