Jubilant FoodWorks

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Jubilant FoodWorks Limited
FormerlyDomino's Pizza India Private Ltd
TypePublic
BSE: 533155
NSE: JUBLFOOD
ISININE797F01012
Industry
  • Restaurants
  • Food and Beverage
Founded16 March 1995; 27 years ago (1995-03-16)
Headquarters
Noida, Uttar Pradesh
,
India
Number of locations
1,373 outlets[1] (2020)
Areas served
India, Nepal, Sri Lanka, Bangladesh and Bhutan
Key people
  • Shyam Sunder Bhartia (Chairman)[2]
  • Pratik Pota (CEO)
Brands
ServicesMaster franchisee
RevenueIncrease ₹3,996 crore (US$530 million)[1] (2020)
Increase ₹568 crore (US$75 million)[1] (2020)
Increase ₹278 crore (US$37 million)[1] (2020)
Total assetsIncrease ₹3,370 crore (US$450 million)[1] (2020)
Total equityIncrease ₹990 crore (US$130 million)[1] (2020)
Number of employees
31,514[1] (2020)
ParentJubilant Bhartia Group
Subsidiaries
  • Jubilant FoodWorks Lanka
  • Jubilant Golden Harvest (90%)
  • DP Eurasia NV (41.32%)
Websitewww.jubilantfoodworks.com

Jubilant FoodWorks Limited is an Indian food service company based in Noida, Uttar Pradesh which holds the master franchise for Domino's Pizza in India, Nepal, Sri Lanka and Bangladesh, for Popeyes in India, Bangladesh, Nepal and Bhutan, and also for Dunkin' Donuts in India.[3] The company also operates two homegrown restaurant brands called Ekdum! and Hong's Kitchen. Jubilant FoodWorks is a part of the Jubilant Bhartia Group, owned by Shyam Sunder Bhartia (husband of Shobhana Bhartia) and Hari Bhartia.[4]

History[]

On the recommendation of a friend who owned other foreign pizza licences, Shyam Sunder Bhartia and Hari Bhartia of the Jubilant Bhartia Group entered into a master franchise partnership with Domino's Pizza.[5] Domino's Pizza India Private Ltd. was incorporated on 16 March 1995, and began operations in 1996.[6] The company opened India's first Domino's Pizza outlet in New Delhi in 1996.[7] The company changed its name to Jubilant FoodWorks Ltd in 2009.[6] It was headed by Ajay Kaul since 2005. Pratik Rashmikant Pota became the CEO from April 2017.[8] Pota announced his resignation in March 2022 and will step down in June.[9]

On 24 February 2011, Jubilant FoodWorks signed a master franchise agreement with American coffeehouse chain Dunkin' Donuts to operate the brand in India.[10] Jubilant FoodWorks opened India's first Dunkin' Donuts outlet in Connaught Place, New Delhi in April 2012. Jubilant FoodWorks was named "Emerging Food Group of the Year" by The Economic Times in 2012.[11][12] The company launched its first homegrown brand called Hong's Kitchen, offering fast casual Chinese dining, with the first restaurant opening at Eros Mall in Gurugram on 13 March 2019.[13][14] On 24 March 2021, Jubilant FoodWorks announced that it had entered into a master franchise and development agreement with Restaurant Brands International to operate Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.[15][16] The company opened India's first Popeyes outlet at Koramangala, Bangalore on 20 January 2022.[17]

Jubilant FoodWorks suffered a security breach in April 2021 and hackers reportedly obtained 13 terabytes of data including 180 million order details, customer names, phone numbers, email IDs, addresses, payment details, and at least 1 million credit cards.[18] In July 2021, Jubilant pledged to supply free pizza for life to Saikhom Mirabai Chanu, who won the silver medal at the 2020 Tokyo Olympics in Women's 49 kg weightlifting. Following her medal win, Chanu had told the media, "First of all, I will go and have a pizza. It has been a long time since I ate it. I will eat a lot today."[19]

Acquisitions[]

On 1 January 2021, Jubilant FoodWorks purchased a 10.76% stake in Barbeque Nation Hospitality Limited for ₹92 crore (US$12 million).[20] On 19 February 2021, the company announced that it would acquire complete ownership of Netherlands-based Fides Food Systems Coöperatief UA for £24.80 million through its subsidiary Jubilant Foodworks Netherlands BV. The acquisition marks Jubilant FoodWorks entry into the Eurasian market. Fides held a 32.81% stake in DP Eurasia NV, which is the master franchisee for Dominos Pizza in Turkey, Russia, Azerbaijan and Georgia.[21][22][23] Jubilant Foodworks announced that it had acquired an additional 6.98% stake in DP Eurasia (or 10,146,964 ordinary shares at a price of 95 pence per share), taking its total stake in the company to 39.79%.[24] Jubilant announced the completion of the merger of Fides Food Systems Coeratief UA with Jubilant Foodworks Netherlands BV on 2 March 2022, and stated that it now owned 41.32% of DP Eurasia NV.[25]

Domino's Pizza[]

India[]

The first Domino's Pizza in India opened in New Delhi in 1996.[7] India surpassed the United Kingdom to become Domino's second-largest market in December 2014, behind the United States.[26][27][28] Domino's Pizza operates 1,495 stores across 322 Indian cities as on 31 December 2021.[29]

Domino's began accepting online orders in 2011, and online orders accounted for approximately 18-20% of total sales as of December 2013.[26][27][30] On 19 March 2014, the 700th Domino's Pizza outlet was opened at HUDA City Centre metro station in Sector-29, Gurgaon, Haryana.[31] The company opened 47 new restaurants between January–March 2014 and 150 outlets in the 2013–2014 financial year.[32] Domino's opened its 1000th outlet at Unity One Mall, Janakpuri, Delhi in January 2016.[33]

In May 2016, the Centre for Science and Environment (CSE) reported that Domino's pizza bread was laced with toxins and carcinogens such as potassium bromate and potassium iodate. Potassium bromate is a category 2B carcinogen, meaning it can cause cancer.[34] Potassium bromate was banned in India in June 2016.[35] In 2017, a customer in Delhi claimed to have found live bugs in Domino's Pizza seasoning sachets. A video of the same went viral.[36] This prompted Domino's to stop giving seasoning sachets for some time. When they restarted, they changed the packing from transparent to opaque.

  • A Domino's Pizza outlet in Panaji, Goa

  • Domino's outlet in Puri, Odisha

  • Domino's, next to a KFC, in New Market, Kolkata

  • Domino's delivery motorcycles in Noida, Uttar Pradesh

  • A Domino's delivery man in Delhi.

Bangladesh[]

Domino's Pizza outlets in Bangladesh are owned and operated by Jubilant Golden Harvest Ltd., a joint venture between Jubilant FoodWorks and the Golden Harvest Group. The joint venture was established in early 2019 with Jubilant holding a 51% stake, and Bangladeshi company Golden Harvest Group holding the remaining 49%.[37] The first Domino's Pizza outlet opened in Dhaka in February 2019.[38][39] In September 2021, Jubilant FoodWorks exercised a call option to acquire an additional 39% stake in the joint venture taking its ownership to 90%.[40][41]

There are currently 8 Domino's Pizza outlets in Bangladesh.[42]

Sri Lanka[]

Jubilant FoodWorks Lanka Pvt. Limited, a subsidiary of Jubilant FoodWorks, operates Domino's Pizza outlets in Sri Lanka. The first Domino's outlet opened in Colombo in February 2011.[43] There were 23 Domino's Pizza outlets in Sri Lanka as of December 2017.[44]

Nepal[]

There are currently no Domino's Pizza outlets in Nepal.

Dunkin' Donuts[]

On 24 February 2011, Jubilant FoodWorks signed a master franchise agreement with American coffeehouse chain Dunkin' Donuts to operate the brand in India.[10] Jubilant FoodWorks opened India's first Dunkin' Donuts outlet in Connaught Place, New Delhi in April 2012.[32] Apart from donuts, Munchkins, and coffee, the chain also serves vegetarian and non-vegetarian hot and cold food.[45] Jubilant FoodWorks operates 29 Dunkin' Donuts outlets across 8 Indian cities as on 31 December 2021.[46]

Popeyes[]

On 24 March 2021, Jubilant FoodWorks announced that it had entered into a master franchise and development agreement with Restaurant Brands International to operate Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.[15][16] The company opened India's first Popeyes outlet at Koramangala, Bangalore on 20 January 2022.[17][47]

Other brands[]

Hong's Kitchen[]

Jubilant FoodWorks launched its first homegrown brand called Hong's Kitchen, offering fast casual Chinese dining, with the first restaurant opening in Gurugram on 13 March 2019.[13][14]

Ekdum![]

Jubilant FoodWorks launched its second homegrown brand called Ekdum!, offering a variety of biryanis from across India in addition to kebabs, curries, breads, desserts and beverages. The first three Ekdum! restaurants were opened in Gurgaon, Haryana in December 2020.[48][49]

References[]

  1. ^ a b c d e f g "Jubilant FoodWorks Ltd. Financial Statements". moneycontrol.com.
  2. ^ "Corporate Governance - Board of Directors". Jubilantfoodworks.com. 30 September 2013. Retrieved 28 December 2013.
  3. ^ [1][dead link]
  4. ^ "Jubilant Life Sciences". Jubl.com. 31 March 2013. Retrieved 28 December 2013.
  5. ^ Shmavonian, Karl. "Pharma and Fast Food Fuel the Jubilant Bhartia Group". Forbes. Retrieved 17 October 2021.
  6. ^ a b "Company - Jubilant FoodWorks Limited - JFL | The Company | Food Service Company | Jubilant FoodWorks Limited". Jubilant FoodWorks Ltd. 31 October 2013. Retrieved 15 January 2014.
  7. ^ a b "Company History of Jubilant Foodworks". Moneycontrol.com. Retrieved 28 December 2013.
  8. ^ Bhushan, Ratna (2017). "Jubilant FoodWorks names Pratik Pota as CEO; to succeed Ajay Kaul". The Economic Times. Retrieved 28 August 2017.
  9. ^ "Pratik Pota resigns as CEO of Jubilant FoodWorks". Moneycontrol. Retrieved 12 March 2022.
  10. ^ a b Rasul Bailay (24 February 2011). "Jubilant FoodWorks ties up with Dunkin". Livemint.com. Retrieved 28 December 2013.
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  13. ^ a b Tandon, Suneera (13 March 2019). "Jubilant FoodWorks adds Hong's Kitchen in India menu". Livemint. Retrieved 11 April 2020.
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  15. ^ a b Staff Writer (24 March 2021). "Jubilant FoodWorks sings deal with US-based restaurant brand Popeyes". mint. Retrieved 25 March 2021.
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  19. ^ "Domino's to offer free pizza for life to Olympic medallist Mirabai Chanu". Business Standard India. Press Trust of India. 25 July 2021. Retrieved 15 November 2021.
  20. ^ "Jubilant continues to broaden its food service scope; buys 10.76% stake in Barbeque Nation | Business News". www.timesnownews.com.
  21. ^ Bhushan, Ratna. "Jubilant Foodworks to acquire Fides Food Systems through Netherlands-based arm". The Economic Times. Retrieved 25 March 2021.
  22. ^ Bureau, Our. "Jubilant to acquire Dutch firm Fides Food for $35 million". @businessline. Retrieved 25 March 2021.
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  24. ^ Market, Capital (1 November 2021). "Jubilant Foodworks' subsidiary to hike stake in DP Eurasia". Business Standard India. Retrieved 13 November 2021.
  25. ^ Market, Capital (3 March 2022). "Jubilant Foodworks update on merger of subsidiaries". Business Standard India. Retrieved 12 March 2022.
  26. ^ a b Kretzmann, David (21 December 2013). "How Domino's Is Poised to Benefit From India". Fool.com. Retrieved 28 December 2013.
  27. ^ a b "How Domino's Pizza, Inc. (DPZ) Is Poised to Benefit From India". Next iPhone News. 21 December 2013. Retrieved 28 December 2013.
  28. ^ Tandon, Suneera (3 February 2015). "Pizza Hut to open 100 outlets in India to counter competition". Livemint.com/. Retrieved 8 January 2019.
  29. ^ "Domino's Pizza". www.jubilantfoodworks.com. Retrieved 12 March 2022.
  30. ^ Kretzmann, David. "Why Domino's Digital Component Is Important". DailyFinance.com. Retrieved 28 December 2013.
  31. ^ "Domino's Pizza celebrates another milestone with the opening of its 700th Restaurant in India!" (PDF). Jubilantfoodworks.com. Retrieved 8 January 2019.
  32. ^ a b "Press Release -Financial Results for Q3 & 9MFY2020" (PDF). Jubilantfoodworks.com. Retrieved 11 April 2020.
  33. ^ Pizza, Domino's. "Domino's® Opens 1,000th Store in India". www.prnewswire.com. Retrieved 15 November 2021.
  34. ^ Patel, Deepak (24 May 2016). "KFC, Pizza Hut, Domino's, McDonald's outlets selling toxic breads: CSE study". Business Standard. Retrieved 8 January 2019.
  35. ^ Jun 21, PTI / Updated; 2016; Ist, 23:02. "India bans use of cancer-causing additive, potassium bromate, in bread, other food | India News - Times of India". The Times of India. Retrieved 12 March 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
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  38. ^ "Domino's vows to be top pizza chain in Bangladesh". Dhaka Tribune. 15 March 2019. Retrieved 15 November 2021.
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  42. ^ "We are very delighted to announce that our dining is open again!". Domino's Pizza Bangladesh on Facebook. Retrieved 21 August 2020.
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  44. ^ "Domino's opens outlet in Boralesgamuwa". Daily Mirror. Retrieved 9 November 2017.
  45. ^ "Delights for tough guys & vegetarians". The Economic Times. 15 May 2014. Retrieved 8 January 2019.
  46. ^ "Dunkin'". www.jubilantfoodworks.com. Retrieved 12 March 2022.
  47. ^ Livemint (19 January 2022). "Jubilant Foodworks opens first Popeyes outlet in Bengaluru". mint. Retrieved 12 March 2022.
  48. ^ Tandon, Suneera (16 December 2020). "Jubilant FoodWorks forays into biryani business with 'Ekdum'". mint. Retrieved 15 November 2021.
  49. ^ "Jubilant FoodWorks makes foray into Biryani segment with brand 'Ekdum!'". The Indian Express. 17 December 2020. Retrieved 15 November 2021.

External links[]

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