Jubilant FoodWorks, the company with master franchise rights for Domino’s Pizza in India and select global markets, has announced its plans to open more than 5,500 Domino’s Pizza stores across the six markets in which it operates, Mint has reported.

This marks a significant increase from the current count of 2,793 outlets in these markets.

The company’s expansion strategy includes markets such as Azerbaijan, Bangladesh, Georgia, India, Sri Lanka and Türkiye.

2023 marked a strategic growth milestone for Jubilant FoodWorks as its wholly owned subsidiary, Jubilant FoodWorks Netherlands BV, acquired DP Eurasia, an exclusive master franchisee of Domino’s Pizza in Türkiye and Georgia.

This acquisition broadened the company’s geographical reach beyond Asia.

As of 31 March 2024, the JFL Group’s network encompasses 2,990 stores across six markets and five brands.

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The brand portfolio in these emerging markets includes franchise rights for three renowned global brands: Domino’s Pizza, Popeyes and Dunkin’.

The company also operates its two own brands, Hong’s Kitchen in India and COFFY in Türkiye.

In the Indian market, it has set a mid-term goal to inaugurate 4,000 stores, an increase from the previous target of 3,000.

Domino’s India is operating 1,995 Domino’s outlets across 421 cities, having added 179 new stores over the past year.

The company’s recent announcement of its March 2023 quarter earnings highlighted a 23.9% year-on-year increase in revenue from operations, reaching Rs15.72bn.

Profits soared by 632% to Rs2bn, bolstered by a net gain of Rs1.7bn from the remeasurement of earlier held equity interest following the acquisition of DP Eurasia.

Mint quoted Jubilant FoodWorks CEO and managing director Sameer Khetarpal: “The March quarter performance was remarkable as Domino’s India’s like-for-like trajectory turned around in Q4.

“This was achieved through several pre-planned strategic interventions, including strengthened regional infrastructure, enhanced on-ground execution, a comprehensive revamp of the brand and further refining the value proposition through targeted delivery fee waivers during a period of weak demand.”