Jubilant Foodworks all set to expand Popeyes brand in India

Restaurant Brands International is a large quick-service restaurant chain with annual system-wide sales of over $35 billion and more than 29,000 outlets in over 100 countries. It owns four restaurant brands—Tim Hortons, Burger King, Firehouse Subs and Popeyes—and operates through franchise partners globally. Three of these brands are present in India and each is operated by a different local partner.

In 2021, Jubilant, which also operates the Domino’s Pizza chain in India, entered into an exclusive master franchise development agreement with a Restaurant Brands International subsidiary to develop, establish, own and operate Popeyes restaurants in India, Bangladesh, Nepal and Bhutan. Compromised.

Popeyes, which sells Louisiana-style Cajun fried chicken and chicken sandwiches, is set to become the second largest brand in Jubilant’s portfolio after Domino’s.

Popeyes entered India in January 2022 with one restaurant in Bengaluru, and has expanded its footprint to 12 restaurants in Bengaluru and one outlet in Chennai.

Joshua Kobza, chief executive of Restaurant Brands International, said India is one of the most important markets in the world for the food service company and a central component in its long-term growth plans. “It’s one of the largest populations. There are really exciting demographic trends: It’s a young population with rising incomes. That means you have more potential consumers with more disposable income and a lot more investment is happening in infrastructure. To me, those are the fundamentals of a really attractive market,” he said during a virtual interview on his first visit to India after taking over as CEO on March 1.

Kobja said infrastructure investment is poised to create a tailwind for the restaurant and food service industry. “That excites us about what’s going to happen over the next few decades. That’s one of the reasons we’ve focused so much on the Indian market personally.”

India’s food service market is estimated at $450 billion and is set to grow at a compound annual growth rate (CAGR) of 15%, organized quick-service chains are expected to grow by 23% from FY20 to FY25, Due to which it has become the fastest growing market. sectors in India’s economic landscape, analysts at Yes Securities said in a June 2022 report.

Popeyes has approximately 4,100 restaurants globally. In India, it will have 50 stores in 12 months and aims to set up 250 outlets in the medium term, said Sameer Khetrapal, chief executive and managing director of Jubilant Foodworks. “We want to take the brand everywhere and I am happy with the response. Food ratings, repeat rates give me confidence to expand rapidly. We will be present in dine in, delivery and will have our own app.” JFL also operates Dunkin’ restaurants.

Promoter of HT Media Limited, which publishes Peppermint, and Jubilant FoodWorks are closely related. However, there is no promoter cross-holding.