New Delhi: Quick-service restaurant operator Jubilant FoodWorks Ltd that runs pizza chain Dominio’s in India, will open nearly 500 outlets of US- based coffee-and-snacks chain Dunkin Donuts in the country in the next 15 years.
On Thursday, Jubilant and Dunkin’ Brands Inc. announced signing of an agreement that allows the New Delhi-based firm to open Dunkin’ Donuts branded franchisee stores in India. Jubilant plans to roll out its first Dunkin’ store in India early next year and will open about 30 stores in the first three years of operations.
Jubilant declined to share the size of the investment planned for the business but said the company will fund the Dunkin’ store opening through its internal accruals.
“India is one of the fastest growing economies and the second most populous country and we see tremendous opportunities for Dunkin’ Donuts here,” says Nigel Travis, the chief executive of Dunkin’ Brands, the parent company of Dunkin’ Donuts.
The $6 billion in sales Dunkin’ Donuts operate 9,700 restaurants in 31 countries. Dunkin’ is the second US brand to have tied up the Bombay Stock Exchange-listed Jubilant that is also the India franchisee for US-based Domino’s Pizza International.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant, are closely related. There are no promoter cross-holdings.