Feb. 7, 2011
Jubilant FoodWorks, a major foodservice operator in India, will launch a yet-unnamed international food chain in the country in the next fiscal year.
According to India Times, rumors have been abundant about which chain Jubilant will bring to India. For now, Ajay Kaul, the company’s CEO, won’t disclose more information other than it being a “big, multinational brand present in a lot of countries.”
Starbucks was among those rumors, however a United States-based firm has signed a deal with Tata Coffee for coffee bean supply and Starbucks development.
India is a hot market for many American food chains. According to the recently released report, "Indian Fast Food Market Analysis," QSR numbers are up 30 percent to 35 percent per annum throughout the country. YUM! Brands Inc. hopes to open 1,000 units of its top three brands – Taco Bell, KFC and Pizza Hut – throughout the next five years.
Quiznos signed a master franchise agreement last week that will enable the opening of its first location in India. Some QSR brands are purposefully tapping into more unpenetrated areas, such as Baskin-Robbins, which is targeting smaller markets throughout India this year.
Jubilant FoodWorks posted a 66.7 percent jump in net profit for the quarter ended Dec. 31, 2010, over the same period last fiscal year. The company operates 364 food outlets, mostly Domino's Pizza, in India and opened 25 new stores during the quarter.