This column should probably start with something pithy about the folly of trying to sell ice to Eskimos. About how silly it was for Guzman y Gomez to think that it could have cracked the US – the unquestioned home of fast food – with a quick-service restaurant chain that started in the Sydney suburb of Newtown, 13,000 kilometres from Mexico City.Just look at GyG shares, which had fallen 49 per cent in the 12 months before they jumped 13 per cent on Friday on news the company has abandoned its plans to conquer the American market. The fact Barrenjoey analysts opened Friday’s analyst call by congratulating GyG co-chief executives Steven Marks and Hilton Brett on the decision similarly speaks volumes.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
‘I made a lot of mistakes’: Why GyG’s American dream had to end
Steven Marks still thinks the Mexican food chain could have cracked the US – just not fast enough. Now the company needs to double down at home.
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