McDonald's has unveiled its new restaurant concept CosMc designed to compete in the same market segment as Starbucks.
The pilot location is set to open in Chicago this month, with plans to establish around ten more by the end of 2024.
The global fast-food giant aims to launch approximately 10,000 new McDonald's restaurants by 2027, with a significant focus on expansion in China, contributing to a total of about 50,000 stores.
The inaugural CosMc's, opening in Bolingbrook, Illinois, will feature a menu targeting those with a sweet tooth, offering items like Churro Frappe and S'Mores Cold Brew.
The menu will also include a simplified selection of McDonald's classics, such as Egg McMuffins.
The new brand draws its name from a McDonald land mascot, an extraterrestrial character featured in ads during the late 1980s and early 1990s.
Despite the current cost of living crisis, McDonald's has proven resilient as consumers opt for more affordable fast-food choices. The company envisions significant growth, with plans for 900 new US restaurants, 1,900 in international markets where it operates directly, and 7,000 in international licensed markets.
More than half of the 7,000 additions are slated for China, McDonald's second-largest market, where recent agreements have granted the company greater control over its operations. CEO Chris Kempczinski sees the potential for China to become McDonald's largest market.
While cautioning against excessive excitement over CosMc's, Kempczinski acknowledged the possibility of global expansion, stating, "It's not worth our time to develop an idea that will only work in one market."
