India to be Domino Pizza’s top five revenue generators in five years
12 Mar 2010
US-based fast food giant Domino's Pizza yesterday said that India would emerge as one of its top five revenue generators over the next three years. The company plans to expand aggressively in the Indian market and will be opening around 60-65 outlets every year for the next three years.
''India currently is one of the fastest growing markets for us and ranks among the top 10 in our global list. In the next three years, India will be among our top five markets. India today contributes around 1.5-2 per cent to our annual global sales, and this figure would double in the next few years,'' Domino's Pizza president and CEO J Patrick Doyle told journalists in New Delhi.
The company's operations are carried out under a master franchise agreement with the Bhartia group-promoted Jubilant Foodworks. In January this year, Jubilant had listed the Domino brand and is looking to end the current fiscal on a Rs420 crore total sales turnover.
''We have opened 65 outlets in India this fiscal, which is the highest number in any market. This shows the growth potential for us here. We will be opening around 60-65 outlets every year for the next three years. We will cross the 500-outlets mark in three years,'' Doyle added.
''Even during the economic recession, India was a growth story for us. Dominos made its biggest expansion in India among all its operations,'' he added.
According to Ajay Kaul, Jubilant Foodworks CEO the company's main focus market for expansion would be in Tier-II and Tier-III cities. He said that the company had opened stores in 26 cities in the past two years and planned to invest around Rs50-55 crore next fiscal, mainly in opening new stores.