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International fast-food chain Papa John's has launched its first outlet in Chennai.
With this, the brand - brought into the country by its master franchisee for India, Om Pizzas and Eats India Pvt Ltd – has 37 outlets in the country.
According to Mr Sanjay Coutinho, CEO of Om Pizzas, Papa John's is the third largest pizza chain in the world, after Pizza Hut and Domino's. In India, Om Pizzas has invested over Rs 100 crore, and the Chennai-based private equity investor TVS Capital Funds took Rs 50-crore exposure (43 per cent stake) in this venture in 2010.
Announcing the launch of the store, Mr Coutinho said it plans to focus on Tier-I and Tier-II cities for now. “We may take the total number of outlets to 50 in the next couple of years, and our long-term plan is to have 100 outlets in India,” he said. It costs Rs 75 lakh on an average to set up a store, he added.
To answer a question On how the company is going to fund its expansion, he said, “TVS Capital has committed to pumping in more money as and when required.”
rravikumar@thehindu.co.in
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