Mumbai: Fast food chain operator Jubilant Foodworks, which runs the Dominos Pizza chain in India, plans to open 70 stores in India in FY11 and enter Bangladesh with its first store next year, a top official said.
“In the next 12 months we plan to open our first store in Bangladesh..right now the due diligence is on, so hopefully by 2011 we should be able to enter Bangladesh,” Ajay Kaul, chief executive officer, told Reuters in an interview on Wednesday.
“We are in discussions with some key global food brands...and as and when something materialises, we will sign a deal with them,” he added.
The retail sector in Asia’s third-largest economy is largely closed, with 51% foreign direct investment allowed only in single-brand retail and multi-brand retail restricted to cash-and-carry outlets.
The Indian firm has earlier been reported to be in talks with Starbucks, the world’s largest coffee retailer, which is keen on entering the Indian market.