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| India to be among top 5 mkts: Domino's |
| BS Reporter / New Delhi Mar 12, 2010, 01:05 IST |
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Fast service restaurant chain Domino’s Pizza expects the Indian market to be among the top five earners for the company in the next three years. At present, the country ranks among the top 10 markets for the pizza giant.
The Indian market has emerged as the fastest growing one in 2009-10 for Domino’s, with the company opening 65 stores till date in the financial year. The company expects to open 500 more stores in the next three years as the opportunity in the Indian market for pizzas and pastas is huge.
“The Indian market is the fastest growing market for Domino’s. Today, we are launching the 300th store in the country. It is the 9,000th store worldwide. As of now, India is among the top 10 earners for Domino’s. In the next three years, we expect India to be among the top five earners,” Domino’s Pizza President and CEO J Patrick Doyle said.
The company expects to close the current financial year (ending March 2010) with a revenue of Rs 420 crore and a profit after tax of Rs 32 crore. The strategy for Domino’s over the last two years has been to diversify into Tier-II and -III cities. Today, the company’s 300 stores are spread across 67 cities.
“Currently, 20-25 per cent of our revenue comes from Tier-II and -III cities. In the next five years, we expect this number to increase substantially as we will be opening many more stores across the country,” Jubilant Foodworks CEO Ajay Kaul said. According to internal estimates by Jubilant, which is the pizza giant’s master franchisee in India, Domino’s commands a 47 per cent share in the organised pizza segment across the country.
“If we talk of home delivery, then – according to the Food Franchising Report – we have a 65 per cent market share,” added Kaul.
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