McDonald's Is Launching a Spinoff Restaurant Chain Based on a Beloved, Blast-From-the-Past MascotThe company saw a lot of success with another former mascot, Grimace, in June.
ByAmanda Breen•
Key Takeaways
- McDonald's is creating a spinoff restaurant chain called CosMc's.
- "CosMc" is an alien from outer space that starred in advertisements in the 1980s and '90s.
McDonald'sGrimace Birthday Mealreleased in June went viral on social media and drove sales, and now the restaurant chain wants to capitalize on another beloved mascot from the past.
McDonald'sexecutives said the company plans to launch a spinoff restaurant chain called CosMc's; it will be based on the mascot called "CosMc," an alien from outer space that was featured in advertisements in the late 1980s and early 1990s,CNBCreported.
Related:McDonald's Grimace Shake TikTok Taking Over Boosts Sales
"CosMc's is a small format concept with all the DNA of McDonald's, but with its own unique personality," McDonald's CEO Chris Kempczinski said, per the outlet.
CosMc's will launch at a small number of sites in "a limited geography" in early 2024. Few details were shared on the second-quarter earnings call, but investors can expect to hear more in December.
McDonald'splans to invest up to $2.4 billion in capital expenditures this year, roughly half of which will go toward building 1,900 new restaurants around the world. The move will put pressure on its profits,Reutersreported in January.
But Kempczinski said this quarter's "theme was Grimace," per CNBC — and it looks like the company hopes to ride that wave of mascot nostalgia into an even bigger success with CosMc.
Related:22 McDonald's Facts That May Surprise You | Entrepreneur
McDonald's Corp is up nearly 12% year over year.
