Jubilant FoodWorks expects Popeye to be ₹1,000 Crore brand in coming 3-4 years

22 Feb 2024 , 10:54 AM

Jubilant FoodWorks relocates Popeye to the North after growing in the South. It is establishing four shops in Delhi-NCR in a week and expects Popeye to become the fastest quick-service restaurant brand in the country, reaching ₹1,000 Crore in the next three to four years.

Gaurav Pande, the Executive Vice President and Business Head at Popeye, stated that with the aim of achieving ₹1,000 Crore in the next three to four years, the expansion of Popeye stores will continue to accelerate.

So far, Jubilant FoodWorks has expanded significantly in the south, with 32 locations; nevertheless, Pande feels that there is still space to create additional stores in the south, and that the firm has merely scratched the surface. Pande noted that the company’s focus on gradual expansion is because it exclusively serves fresh chicken. He stated that expanding its retail footprint across continents necessitates the creation of capacity and supply chain capabilities.

Regarding demand, Pande holds the belief that it follows a cyclical pattern and anticipates a resurgence in demand for the QSR (Quick Service Restaurant) industry. He expressed that it may take some time for the situation to stabilize, viewing it as a phase. Pande emphasized that such cyclical fluctuations are inherent, and he remains optimistic about the QSR industry’s significant long-term potential.

The business plans to ”fast expand across” its QSR brands, with a particular emphasis on Domino’s, since India is a ”very rapidly rising market” with more discretionary spending and urbanisation driven by its booming economy.

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