Jubilant FoodWorks to Deliver 1,000 New Domino’s Outlets: Report
In a move that is expected to create a significant stir in the Indian food industry, Jubilant FoodWorks, the master franchisee of Domino’s Pizza in India, has announced plans to expand its network of outlets by delivering 1,000 new Domino’s stores across the country over the next three years. As per a report by Business Standard, the company aims to increase the number of Domino’s outlets to 3,000 in India, which will be a significant increase from the current 1,500 stores.
The company’s CEO, Sameer Khetarpal, believes that the expansion plan is driven by the positive economic sentiments in the country. According to Khetarpal, the government’s initiatives to boost consumption and the relaxation of interest rates will lead to an increase in food consumption in the country. The CEO’s statement comes at a time when the Indian economy is facing challenges due to the ongoing pandemic and the subsequent lockdowns.
The expansion plan is expected to create new job opportunities and boost the company’s revenue. Jubilant FoodWorks has been one of the fastest-growing companies in the Indian food industry, and this move is expected to further solidify its position. The company has been focusing on expanding its online presence and has been investing heavily in digital marketing and delivery services.
The company’s shares closed 1.26% lower on the Bombay Stock Exchange (BSE) on Friday, which is a reflection of the market’s mixed reaction to the news. While some investors may be concerned about the company’s ability to execute the expansion plan, others may see it as a positive move that will create new opportunities for growth.
Jubilant FoodWorks’ decision to expand its network of outlets is a strategic move that will help the company to increase its market share in the Indian food industry. The company has been facing competition from other players in the industry, including Zomato and Swiggy, which have been aggressively expanding their own networks of restaurants.
The expansion plan is also expected to lead to increased competition among food delivery companies, which will drive innovation and improve the overall customer experience. With the rise of online food ordering and delivery, the demand for food delivery services is expected to continue to grow, and Jubilant FoodWorks’ expansion plan is well-timed to capitalize on this trend.
In addition to the expansion plan, the company has also been focusing on improving its operational efficiency and reducing costs. Jubilant FoodWorks has been investing in new technologies, including artificial intelligence and machine learning, to improve its supply chain management and reduce food waste.
The company has also been focusing on sustainability and has been working to reduce its environmental impact. Jubilant FoodWorks has been implementing sustainable practices in its stores, including reducing energy consumption and waste generation.
In conclusion, Jubilant FoodWorks’ decision to deliver 1,000 new Domino’s outlets in the next three years is a significant move that will create new opportunities for growth and expansion in the Indian food industry. The company’s CEO believes that the expansion plan is driven by the positive economic sentiments in the country, and the company’s focus on sustainability and operational efficiency will help it to execute the plan successfully.
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