The US-based fast food giant Domino's Pizza on Thursday said India would make significant contributions to its revenues to become one of its top five revenue generators in the next three years. To expand aggressively in the Indian market, the company 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 here.
Targets Rs. 420 cr sales
In India, Domino's Pizza operates under a master franchise agreement with the Bhartia group-promoted Jubilant Foodworks. In January this year, Jubilant had listed the Domino's brand. The company is hoping to end this fiscal with a total sales turnover of Rs. 420 crore.
“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.” Mr. Doyle added.
Investment
According to Jubilant Foodworks CEO Ajay Kaul, “Our main focus market for expansion will be Tier-II and Tier-III cities. We have opened stores in 26 cities in the past two years. We plan to invest around Rs. 50-55 crore next fiscal, mainly in opening new store.”
