Partnering with PepsiCo (NYSE:PEP) to bring the world Doritos Locos Tacos was a game-changer for Taco Bell.
It took the Yum Brands‘ (NYSE:YUM) subsidiary only about 10 weeks to turn its business around by selling 100 million of the new product featuring a crunchy nacho cheese-flavored Doritos shell. The popular taco has unseated the Crunchwrap as Taco Bell’s all-time most successful product, and helped the company lift Q1 same-store sales in the first quarter.
According to the Orange County Register, “To put some perspective on the 100 million tacos sold, Taco Bell notes that McDonald’s sold its first 100 million burgers in 1958 — 18 years after the first McDonald’s burger stand opened, and three years after Ray Kroc started his first McDonald’s franchise.”
Yum Brands plans to continue its partnership with PepsiCo — which owns the Doritos brand under its Frito-Lay division — to bring customers different flavors of Doritos Locos Tacos such as “Cool Ranch” and “Hot and Spicy.”
The company also recently announced the rolling out of a new “gourmet Mexican” menu at Taco Bell with dishes created by a celebrity chef.