Nov. 21, 2002
BANGALORE, India -- Domino's Pizza India Ltd. said it wants to open 10 stores in 2003, for a total of 100 units in India.
According to Rediff.com, the company expects to spend Rs 7 crore (U.S. $145,000) to expand.
Domino's Pizza India's chief executive officer Arvind Nair said the company wants to boost its metro presence "where we hope a huge market exists for our brand."
The company franchised its first Domino's in India in 1996, and is the master franchisee for Nepal, Bangladesh and Sri Lanka.
Nair would not comment on how the company is doing financially since reducing its presence in 40 cities to 24 over the past year. Financial constraints, he said, weren't the problem. Rather a lack of solid infrastructure to support field operations necessitated the closure of those stores.
Nair believes Domino's Pizza India holds more than a 50 percent share of the country's market, and he said it wants to grow that share by offering products more suited to local tastes.
"Thirty percent of our pizza offerings are based on unique Indian flavor and taste," he said. "Also, going with the local cultural events, we organize several schemes during the festival season like for Navratri, Onam, Durga Puja, Diwali, among others," he said.