McDonald's to create a spinoff restaurant brand called CosMc's

During its second quarter earnings call, the giant shared a few details about this upcoming project.

Global fast-food chain McDonald's is creating a spinoff restaurant chain known as CosMc’s, stated executives on July 27.

During its second-quarter earnings call, the giant shared a few details about this upcoming project. "Our new business ventures team is in the process of developing a new concept we will call CosMc's, which we will test in a small handful of sites in a limited geography beginning early next year," said CEO Chris Kempczinski."CosMc's is a small-format concept with all the DNA of McDonald's but its own unique personality."

The chain further confirmed with Business Insider that CosMc is a character from McDonaldland, a fictional universe home to characters such as Ronald McDonald. This part-alien part-vehicle character first appeared in the last 1980s.

This new announcement comes in as the chain steps up the pace of new restaurant openings in the current year. Earlier this year in January, they commented that they will spend upwards of $1 billion to open 1900 stores across the globe, of which over 400 stores are aimed for the USA and certain other markets including Canada, the UK and parts of Europe.

Along with this, the company is also focussing on the modification of traditional restaurants to meet the world’s growing digital demands. "While our primary focus is on opening traditional units, we are always testing and learning new ways to meet the needs of our customers," said the CEO.

McDonald’s reported second-quarter net income of $2.31 billion, or $3.15 per share, an increase from $1.19 billion, or $1.60 per share, a year ago.