Dunkin' Donuts Announces Entry Into India
Dunkin' Donuts reaches agreement with Jubilant FoodWorks to open 500 restaurants over the next 15 years
CANTON, Mass., Feb. 24, 2011 /PRNewswire/ -- Dunkin' Donuts, the world's leading baked goods and coffee chain, is continuing its steady expansion around the globe, announcing today that the Company has signed an agreement with Jubilant FoodWorks Ltd. to enter the Indian market. The master franchise agreement calls for Jubilant FoodWorks to develop, sub-franchise, and operate more than 500 Dunkin' Donuts restaurants throughout India over the next 15 years. The first Dunkin' Donuts locations are expected to open by early 2012. The Agreement marks the largest international store development commitment in Dunkin' Donuts' history.
At an official contract signing ceremony at Hotel Oberoi in Delhi today, Dunkin' Brands' Chief Executive Officer and Dunkin' Donuts' President Nigel Travis officially welcomed Jubilant FoodWorks, headed by Chief Executive Officer Ajay Kaul, as Dunkin' Donuts' newest international master franchisee. Jubilant FoodWorks has extensive experience in the Indian restaurant industry, holding the master franchisee rights for Domino's Pizza for India, Nepal, Sri Lanka and Bangladesh.
With 574 net new global restaurant openings in 2010, more than any other quick service restaurant (QSR) concept, Dunkin' Donuts has approximately 9,700 restaurants on four continents and expects to open its 3,000th international location this month. The Company's entry into India follows its expansion over the past several years throughout Europe, the Middle East, Latin and South America as well as the Asia-Pacific market. The Company opened its first eight restaurants in Russia in 2010 and has opened more than 70 restaurants in greater China since 2007.
According to Nigel Travis, expansion to India is an integral part of Dunkin' Donuts' international growth plan. "As one of the world's fastest-growing economies and the second most populous country, India presents a tremendous growth opportunity for Dunkin' Donuts. We are especially delighted that we are entering the country with Jubilant FoodWorks, a world-class food service company," said Mr. Travis. "With a deep understanding of the Indian consumer, solid operational expertise and best-in-class marketing, Jubilant will play a key role in delivering on our goal to bring Dunkin' Donuts coffee, baked goods and snacks to more people around the globe. We look forward to a long and mutually beneficial alliance."
"Dunkin' Donuts is one of the world's pre-eminent and fastest-growing food service brands," said Mr. Shyam S. Bhartia, Chairman, and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Ltd. "We are proud to be the newest Dunkin' Donuts international franchisee and look forward to introducing Dunkin' Donuts' outstanding beverages, baked goods and snacks, along with their quality service and great value, to people throughout India."
Dunkin' Donuts and Jubilant FoodWorks will work together to offer customers a menu that combines Dunkin' Donuts' renowned coffee, espresso-based drinks, baked goods and other snacks, along with products specially tailored for the Indian market.
Dunkin' Brands, Inc., the parent company of Dunkin' Donuts and Baskin-Robbins, already has presence in India. Baskin-Robbins, the world's largest chain of ice cream specialty shops, with more than 6,400 locations around the globe, opened its 400th shop in India in 2010 and expects to open approximately 60 additional locations in the region this year. In January, Baskin-Robbins India launched a convenient home delivery service for ice cream lovers in Mumbai and plans to expand this service to several other key cities. Baskin-Robbins India was also recently awarded the title of "Most Popular Brand of Ice Cream in India" by the Global Youth Marketing Forum for its 2010 marketing efforts.
Certain statements in this press release express our opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, including, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate, and therefore are, or may be deemed to be, "forward-looking statements." These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "seeks," "projects," "intends," "plans," "may," "will" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Due to the risks and uncertainties inherent in forward-looking statements, actual results could differ materially from those stated or implied in this press release. We do not undertake to revise or update any of the forward-looking statements contained in this press release as a result of new information, future events or otherwise.
About Dunkin' Donuts
Founded in 1950, Dunkin' Donuts is America's favorite all-day, everyday stop for coffee and baked goods. Dunkin' Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin categories. Dunkin' Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for five years running. The company has more than 9,700 restaurants in 31 countries worldwide. In 2010, Dunkin' Donuts' global system-wide sales totaled $6 billion. Based in Canton, Mass., Dunkin' Donuts is a subsidiary of Dunkin' Brands, Inc. For more information, visit www.DunkinDonuts.com.
About Jubilant FoodWorks Ltd. (JFL)
JFL was incorporated in 1995 and initiated operations in 1996. JFL is India's largest and fastest growing food service company, with a network of 364 stores (as of 31 December, 2010). JFL operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. The Company is the market leader in the organized pizza market with a 50% market share and 70% share in the Pizza home delivery segment in India. The Company has now also strengthened its portfolio by entering into an agreement with Dunkin' Brands Inc., for developing the Dunkin' Donuts brand and operating restaurants in India, Srilanka, Bangladesh and Nepal.
SOURCE Dunkin' Donuts
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