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Motilal Oswal Report
Jubilant FoodWorks Ltd. was granted the master franchise rights for the fried chicken brand, Popeyes Louisiana Kitchen in March 2021. In this report, we will look at:
Popeyes' history,
the brand's recent international store expansion trajectory,
its operating model in India, and
the areas where potential synergies with Jubilant FoodWorks exist.
We will also present the findings from our visits to Popeyes stores in Bengaluru.
Jubilant FoodWorks' has guided for an additional 250 Dominos restaurants in FY23 with management reiterating the medium-term potential of 3,000 Domino's stores nationwide.
However, its management has not displayed the same aggression for its other brands – Dunkin Donuts, Hong's Kitchen or Ekdum! In case of Popeyes, though, Jubilant FoodWorks has guided for 250- 300 stores in the medium term (with no specific timeline) including 20-30 stores in FY23E.
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