Key Points of Jubilant FoodWorks New Popeyes Chicken Stores:
- Jubilant FoodWorks and Restaurant Brands International are celebrating the first anniversary of Popeyes, a chain of chicken sandwiches, in India.
- The companies are committed to sustainably growing the brand in India.
- Jubilant FoodWorks plans to add 50 Popeyes stores in the next year, in addition to the 13 stores it currently has in India.
- The company aims to have 250 stores in the medium term.
- To achieve this growth, Jubilant FoodWorks has been constantly learning and innovating its products for customers.
- The QSR industry in India is poised to grow by 9-10%, and chicken as a space is expected to grow faster than that.
- Restaurant Brands International considers India to be one of its biggest priority markets.
- Though there has been some volume uptick, consumers are still conscious of their spending due to inflation.
Details of Jubilant FoodWorks New Popeyes Chicken Stores:
Jubilant FoodWorks and Restaurant Brands International Celebrate First Anniversary of Popeyes in India, Plan to Add 50 New Stores
Jubilant FoodWorks and Restaurant Brands International are celebrating the first anniversary of Popeyes, a chain of chicken sandwiches, in India. The companies have reinforced their commitment to sustainably growing the brand in the country. Sameer Khetarpal, MD and CEO of Jubilant FoodWorks, announced that the company plans to add 50 Popeyes stores in the next year.
“We are ready to expand and we are super excited about the journey,” Khetarpal said in an interview with CNBC-TV18.
Currently, Popeyes has 13 stores in India, mostly located in Bengaluru. The company plans to open 50 more stores in the next year and ultimately have 250 stores in the medium term. To achieve this growth, Jubilant FoodWorks has been constantly learning and innovating its products for customers. The company has also increased its real estate team by three times in the last six months to help expand its stores across the country.
“The market is huge. The QSR (quick service restaurant) industry as a whole is poised to grow by 9-10 percent. My estimate is that chicken as the space will grow faster than that,” Khetarpal added.
Restaurant Brands International considers India to be one of its biggest priority markets, with Joshua Kobza, CEO of Restaurant Brands International, expressing excitement for Popeyes’ growth in the country.
“We have now taken the Popeyes, famous Popeyes chicken sandwich all over the globe and I think that’s really driving a lot of growth across the category. We will expect to do the same here in India,” Kobza said.
Despite the positive news, Khetarpal mentioned that he would have liked inflation to have cooled off more as it has led to consumers still choosing entry-level and lower-priced products. He said that though there had been some volume uptick, consumers were still conscious of their spending.
In Thursday’s trading session, the stock of Jubilant FoodWorks is trading with a minor gain, with a price of around Rs 429.60 per share.
About Jubilant FoodWorks:
Jubilant FoodWorks is a market leader in the pizza segment, with over 1,701 outlets for brands such as Domino’s Pizza, Dunkin’ Donuts, and Hong’s Kitchen. The company has a team of over 30,000 brand ambassadors dedicated to delivering value to its customers.
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