Comments
Jubilant FoodWorks announced the plan of opening 250 Popeyes stores across tier 1 and 2 cities, with a major focus in the southern region, in the next 4-5 years, said Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited.
Popeyes, a brand of Restaurant Brands International, made its debut in India with the opening of its first restaurant in Bengaluru in 2022. Currently, it operates 12 restaurants in Bengaluru and one in Chennai. Globally, it has a footprint of 4100 stores.
New outlets
In the near term, the company said that it will open 50 stores by March 2024. The chicken QSR market is growing at a compounded annual growth rate (CAGR) of 18 per cent in the country and will be worth ₹4,200 crore in 2021. Popeyes directly competes with KFC.
“India is important to us as we expand globally, and one of our missions is to establish the most loved brands in the world. It will be a key market for our brands in the next 5-10 years,” said Joshua Kobza, CEO of Restaurant Brands International. Currently, it has three of its four brands in India.
Recently, Jubilant announced its capex plan of ₹650 crore for 12 months, of which ₹300 crore is for setting up stores that will be shared between Dominos and Popeyes. While the store size depends on the model, Khetarpal said that a flagship would be an average of 4,000 square feet.
Expanding presence
Last year, the company says that it has served nearly one million guests in Bengaluru and Chennai. “We are confident in our product and our local partner and see great growth coming from India, and hence look forward to further expanding our presence and bringing more flavorful menu items to our guests,” noted Kobza.
Talking about introducing a drive-through as a facility, which is a critical part of the company’s business globally, particularly in the US. Khetarpal said that it depends on the real estate of the market. “It is more of a format and location decision; if we open on highways and see customer demand, then yes.”
Globally, Popeyes has been adding 200 stores annually, up from just 30 stores before it was acquired. Restaurant Brands International acquired Popeyes in 2017.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.