Domino's Pizza crosses 2,000 store mark in India, aims to double count in next 5-6 years

Domino's Pizza, operated by Jubilant FoodWorks Ltd (JFL) in India, has opened its 2,000th store in the country, marking a significant achievement for the brand, which entered the Indian market 28 years ago in 1996

The company celebrated this occasion by launching seven new stores across various regions nationwide. 

Over the years, Domino's has grown steadily, with the first 500 stores taking over 16 years to open. However, the last 500 stores were opened in just 29 months, demonstrating the company's accelerated expansion efforts in India.

Plans to double store count to 4,000

Domino's plans to double its store count to 4,000 in India within the next 5-6 years.

"It's the first time that a country outside of the US has reached over 2,000 stores," said Art D'Elia, Domino's EVP, International.

The company aims to add around 180-200 stores in the current fiscal year, with a capital expenditure of Rs 250 crore for FY25, most of which will be dedicated to the expansion of the pizza business.

Why is India a key market for Domino's?

India has become Domino's top market outside the United States, serving over 200 million pizzas annually through its network of 2,000 stores in 421 cities.

The Indian market presents a "huge growth opportunity" due to the growing economy and expanding middle class. Domino's has made pizza accessible to a broader audience in India, contributing to its rapid growth.

"So we expect India to continue to be one of the fastest growing markets in the world. It's a top-five market today, and we expect it will continue to climb up the ranks in the size markets that we have outside of the US," said D'Elia.

The quick-service restaurant (QSR) sector in India is experiencing significant changes. According to Sameer Khetarpal, CEO and MD of JFL, the demand for Domino's pizzas had slowed post-Covid due to inflation but has revived after the softening of key commodity prices.

Khetarpal expressed cautious optimism for growth, noting concerns about rising wheat and milk prices, which are essential ingredients for the pizza business.

Despite these challenges, Domino's has managed to open one new store every two days post-Covid, showcasing its resilience and commitment to growth.

Jubilant FoodWorks market presence

Jubilant FoodWorks Ltd. operates Domino's and holds franchise rights for other brands such as Popeyes, Dunkin', and Hong's Kitchen.

As of March 31, 2024, JFL was operating 2,793 stores globally. The company plans to focus on its existing markets, including India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia, without immediate plans for expansion into new markets.

In India, JFL aims for a balanced approach by expanding in both existing large markets and new smaller tier III and IV locations.