QSR chain operator Jubilant Foods Ltd (JFL) expects its fried chicken brand Popeyes to reach INR 1,000 crore in sales within the next 3-4 years, as mentioned by its CEO and MD Sameer Khetarpal on Wednesday. Additionally, JFL, which is also a master franchisor of Domino’s, is expanding its reach and is expected to have around 3,000 outlets in the medium term.
The company plans to “swiftly broaden its presence” across its QSR brands, placing particular emphasis on Domino’s, given India’s status as a “rapidly expanding market” characterized by increasing discretionary income and urbanization spurred by its growing economy.
When asked about its latest addition Popeyes, Khetarpal said, “We have got an outstanding response from Popeyes as a brand here.”
JFL, which opened its first store in Delhi on Wednesday and its 33rd store pan-India, has plans to add four more stores in the national capital region next week.
“We are rapidly expanding and Popeyes will be the fastest QSR chain to get INR 1,000 crore in sales,” Khetarpal said.
He further stated that on average, a QSR chain typically requires 11-15 years to achieve such a scale.
“We are opening stores very rapidly. We will do 30 to 50 stores this financial year they’re already there,” Khetarpal said, adding that the company will continue to expand rapidly next year as well.
On the timeframe for Popeyes reaching INR 1,000 crore in sales, Khetarpal said, “It will take 3 to 4 years. By FY28, it would absolutely reach there.”
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JFL plans to expand Popeyes’ presence to the National Capital Region (NCR) and other prominent cities in North India.
Launched by JFL in January 2022, the brand is presently operational in 10 cities across South India, with Delhi marking the eleventh city.
For the current fiscal year, the company has plans to invest similarly around INR 750 crore on expansion and opening of new stores, he added.
JFL is also in the process of expanding its food factories. Presently, there are two factories in operation: the first located in Noida and the second recently inaugurated in Bangalore. Additionally, work is underway for the establishment of a third factory.
The recently commissioned Jubilant Food Park Bangalore is the largest food processing unit. This facility is designed to serve 750-plus Domino’s stores, and 300 stores of Popeyes, Hong’s Kitchen, and Dunkin’, according to the company.
About the expansion of Domino’s, the largest brand in its kitty, Khetarpal said it is expanding rapidly both in metro and smaller towns and gaining market shares from the competitors.
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“When we started…Domino’s 27 years ago, we would have not imagined we would get to 2,000 stores. Our medium-term outlook remains 3,000 outlets in the next 4 years,” he said.
The potential is far greater than 3,000 stores, with over 1,000 colleges having more than 5,000 students, yet Domino’s is not present.
“There are so many metro stations and airports that are being built, where we are not present. Opportunities are for beyond 3,000 outlets, but our medium-term outlook is to open 250 stores every year…” Khetarpal added.
Besides Domino’s, JFL which is part of the Jubilant Bhartia Group, also has franchise rights to Dunkin’ and Hong’s Kitchen!
“Expansion is on the way for all the brands,” he added.
The expansion would be through company-owned stores but it is also trying for a franchise model, Khetarpal said.
As of December 30, 2023, JFL was operating 1,928 Domino’s stores, 25 stores of Dunkin’ and 22 stores of Hong’s Kitchen.
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