US’s Dunkin’ bullish on Indian market, plans 500 stores in 15 yearsMay 30th, 2012 - 8:58 pm ICT by IANS
New Delhi, May 30 (IANS) US-based baked food and coffee chain Dunkin’ Donuts sees a huge opportunity in India with its growing economy and the middle class interest in eating out and will launch 500 stores in the country in the next 15 years.
“India as one of the world’s fastest growing economies presents a tremendous growth opportunity for Dunkin’ Donuts,” Nigel Travis, chief executive officer, Dunkin’ Brands and president, Dunkin’ Donuts US, told reporters while inaugurating its third store in the national capital.
“We plan to open almost 500 stores in the next 15 years,” he added.
Dunkin’ Donuts entered into an alliance with Jubilant FoodWorks Ltd (JFL) early last year to bring the brand’s restaurants to India.
“We have worked very closely with the team from Jubilant FoodWorks over the last year to develop a winning strategy that addresses the unique needs of the Indian consumers and the market opportunity in Indian while leveraging our global brand promise and strength,” Travis said.
The venture plans to open 10 stores by the end of the current financial year and 100 in another four to five years. It would be primarily targeting the metros. After Delhi, the company plans to open stores in Mumbai and Bangalore.
“We plan to open stores in a measured fashion, therefore there are no immediate plans of opening stores in smaller towns,” said Ajay Kaul, JFL chief executive.
Apart from the signature donuts and beverages, the store also serves spicy sandwiches and tea to suit Indian tastes.
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Tags: ajay, baked food, beverages, brand promise, chief executive officer, dunkin brands, dunkin donuts, foodworks, global brand, growth opportunity, indian consumers, jfl, kaul, market opportunity, metros, middle class, mumbai, New Delhi, nigel travis, spicy sandwiches