Burger King wants to reinvent the Whopper
Yahoo Finance Live's Brian Sozzi discusses Burger King's motive for reinventing its Whopper.
BRAD SMITH: Welcome back to Yahoo Finance Live, everyone. Let's turn our attention now to food innovation, or, should I say, focusing on the classics. Burger King is bringing a new trendy Whopper to the menu. And that's where we find Sozzi's Take today at the table. Sozz, what do you got?
BRIAN SOZZI: Yeah, Julie Hyman is a big fan of calling it food innovation. I hope she's still watching. I know she's a big, big fan. But look, the Whopper is now starting to be reinvented in select markets. You're seeing the Whopper come out with avocado and various pieces of bacon that is a little bit of a changeup from the historic Whopper, which is essentially just a giant big burger patty.
Now I can't say that I'm too surprised by this because we've asked Jose Cil, the CEO of Burger King parent company, Restaurant Brands, about what's going on with the Whopper. Take a listen on how he's trying to reinvent this classic burger.
JOSE CIL: The team is really focused on the guest experience and Whopper being at the center of that, we felt it was important to invest behind it, to elevate an already flagship and iconic product, and make sure that it becomes the centerpiece of our game plan going forward.
BRIAN SOZZI: So, clearly, Jose Cil all in on the Whopper, which is-- which, fun fact, I didn't realize, until Jose told us, is a multibillion dollar brand--
BRAD SMITH: Oh, wow.
BRIAN SOZZI: --for the company, but really, it has not gotten much love before Jose took over as CEO. It was a constant item being discounted. I remember picking up a Whopper for $1 at one point. I had my little paper coupon. I went there, picked up my burger, and went home. But still, it is an iconic franchise inside of Burger King. And not too many other fast food chains have this type of iconic franchise. Obviously, of course, there's the Big Mac.
But still, here's my takeaway on this. As I mentioned, the Whopper is iconic, in my humble view, and deserves the love it's getting from Jose Cil and his team there. Big Mac equals no innovation, where I have not seen any avocados being slapped on a Big Mac-- I'm just saying. Potential market share opportunity for the Whopper. And then last but not least, nice to see a non-chicken sandwich item getting attention at a fast food player. That's all we've heard about two years, chicken sandwiches. Burger King has played in this, but I like this focus on the Whopper.
BRAD SMITH: Well, that's what it's been so much focus on the chicken sandwich wars. I don't think there's been enough focus on the breakfast wars as well, trying to win that buck at the top of the day before everybody else makes their purchases. And quite frankly, yes, and there, we're seeing it in glorious, big, blown-up fashion--
BRIAN SOZZI: Love it.
BRAD SMITH: --behind us, the Whopper in Whopper size. Ultimately, there's only one other brand that has had the type of success on branding a burger, and it is McDonald-- no McDonald's-- and I mean, I'm not just sitting here standing for the golden arches, but nobody else has an index attached--
BRIAN SOZZI: That's true.
BRAD SMITH: --to one of their items on the menu.
BRIAN SOZZI: There's only two. It is the Big Mac Index and I believe the Waffle House House Index.
BRAD SMITH: Oh.
BRIAN SOZZI: So there's two fast food indicators out there. But you are correct. There is no Whopper Index. And you made a very good point on breakfast. More of these fast food companies should be focusing on breakfast, as people are getting more mobile again, they're returning to work. I think it was you, a big fan of the Croissan'wich. So am I.
BRAD SMITH: A massive fan of the--
BRIAN SOZZI: Big fan. Very undervalued asset.
BRAD SMITH: Who is was also the only brand to have French toast sticks--
BRIAN SOZZI: So good.
BRAD SMITH: So, Burger King.
BRIAN SOZZI: So good. Grew up on those things.
BRAD SMITH: Yeah, they were great.