Vegan fast-food chain Odd Burger has signed a non-binding letter of intent (LoI) with development group Earthlings Canada to open 150 restaurant outlets in India and Singapore.
Over a period of ten years, Earthlings Canada will open 145 locations in India and five in Singapore.
The first location is set to open in Mumbai by the end of 2023. This store will also serve as a model store for the territory.
Odd Burger co-founder and CEO James McInnes said: “The growth opportunity in the Indian market is significant.
“It is estimated that there are 574 million people that follow a meat-free diet in India, with 126 million of those adhering to a vegan diet. The local connections and know-how gained through our partnership with the developer group will help us service this large and growing market.”
A definitive agreement is expected on or before 31 May 2023. After this time, Earthlings Canada could be given the master franchise rights in India and Singapore.
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The development group could also be given the right of first refusal to purchase additional territories in other South-East Asian countries, including Australia and New Zealand.
Desai said: “We expect there to be tremendous excitement when we launch Odd Burger in the Indian market. The market is craving an industry-leading brand like Odd Burger to provide a vision for a sustainable future and to make plant-based eating more accessible.”