India, at present, is one of the fastest growing markets for us and ranks among the top 10 in our global list. Within the next three years, India will be among our top five markets, Dominos Pizza president and CEO J Patrick Doyle said.
He said, We will cross the 500 outlet-mark in three years. There is still a huge untapped market in the country which we want to exploit.
According to Doyle, India currently contributes to around 1.5%-2% of Dominos annual global sales of $6 billion and it is expected to grow further. Even during the economic recession, India was a growth story for us. The company made its biggest expansion in India among all its operations, he added.
In India, the Dominos brand is operated by Bhartia Group-promoted Jubilant Foodworks under a master franchise agreement.
Talking about the investment plans in India, Ajay Kaul, CEO, Jubilant FoodWorks, said: We will be investing Rs 50-55 crore this year. Of that, the majority would be utilised in opening of new stores. Dominos has around 300 stores in India and plans to open 65 new outlest this year. The shops will be launched in locations which include tier II and III cities like Kerala, Indore, Jammu, Haridwar.
Kaul said that Dominos India operations are the fastest growing in its global system growing. It is growing at a compound annual growth rate of almost 42% for the last five years.