Yum Brands subsidiary KFC announced Thursday a full rebrand of the company’s global enterprise. CEO David Gibbs spoke in a video shared with stockholders via TikTok that the rebrand would begin immediately.
“Signs will come down, new signs will go up, and we will usher in a new era of wealth for our shareholders as Kentucky Fungible Chicken. Today we are the world’s leader in fried chicken, but the promise of tomorrow has never been more fungible.”
Insiders claim the company debated many different strategies to capitalize on the popularity of cryptocurrency, including bitcoin-fed chickens and burning the colonel’s secret recipe and selling it as an NFT.
Yum Brands stock has been climbing for weeks since debuting their streaming food service PizzaHub and many analysts wonder if this may be an indicator for the future.
“In the last 6 months we have seen corporation after corporation throw themselves onto this cryptocurrency fire and they all end up the same way: filthy rich and better for it. I honestly cannot believe it is this easy to make money and everyone who is poor deserves it,” wrote the Wall Street Journal editorial board in an op-ed published this morning.
Some analysts have argued this may be a bridge too far for the company, who will begin rebranding their 24,000 worldwide locations in June.
Yum Brands stock quickly spiked over $200 on the news before settling back to where it was.