The annual NRN Power List is the definitive list of industry leaders who are not only setting trends today, but also shaping them for tomorrow.
January 25, 2018
The annual NRN Power List is the definitive list of people setting foodservice trends today and shaping them for tomorrow. See the full list >>
Andrew and Peggy Cherng founded California-based Panda Restaurant Group Inc. in 1983 and their many concepts, led by the $2.9 billion Panda Express, now number more than 1,900 locations. More than just co-CEOs, they are savvy entrepreneurs who eschew following the herd.
Known for: Panda Express is a stalwart in U.S. shopping malls, but over the years the Asian fast-food chain has evolved and expanded to an array of new venues, including airports, sports stadiums, military bases, universities and standalone restaurants.
Power move: In 2017, the Cherngs expanded their reach to the beverage space with the new Panda Tea format. The concept features a tea bar of Asian “handcrafted” drinks, as well as the Panda Express entrée lineup. The Cherngs have also made a flurry of investments in emerging-growth chains, including Pieology Pizzeria, Ippudo, Just Salad, YakiYan, Uncle Tetsu and, most recently, Urbane Café.
What’s next: With the Cherng Family Trust, the couple has a stated goal of building “a world-class alternative investment platform.”
