Jubilant Foods Expects Popeyes to Hit ₹1,000 Crore Sales in 3-4 Years, Eyes Rapid QSR Expansion

22 Feb 2024 , 01:59 PM

Jubilant Foods Ltd (JFL) anticipates its Popeyes fried chicken brand to surpass ₹1,000 Crore in sales in the next 3-4 years, according to CEO and MD Sameer Khetarpal. JFL, also the master franchisor of Domino’s, aims to expand its reach and is projected to have approximately 3,000 outlets in the medium term.

The company plans to rapidly expand its Quick Service Restaurant (QSR) brands, with a primary focus on Domino’s due to India’s rapidly expanding market, increased discretionary income, and urbanization driven by economic growth.

Popeyes, JFL’s latest addition, received an outstanding response as a brand. The company opened its 33rd store pan-India, with plans to add four more stores in the National Capital Region next week.

Khetarpal stated that Popeyes is expected to become the fastest QSR chain to achieve ₹1,000 Crore in sales, a milestone that typically takes 11-15 years for QSR chains to reach.

The company aims to open 30 to 50 stores in the current financial year and will continue its rapid expansion next year. Popeyes is set to achieve ₹1,000 Crore in sales within 3 to 4 years, reaching this milestone by FY28.

JFL plans to expand Popeyes’ presence to the National Capital Region and other prominent cities in North India. Launched by JFL in January 2022, Popeyes is currently present in 10 cities in South India, with Delhi being the eleventh city.

For the current fiscal year, JFL plans to invest around ₹750 Crore in expansion and opening new stores. JFL is actively building food factories, with two currently operational in Noida and Bangalore. A third factory is in the works.

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