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Jubilant FoodWorks

From Wikipedia - Reading time: 15 min

Jubilant FoodWorks Limited
FormerlyDomino's Pizza India Private Ltd
Company typePublic
BSE: 533155
NSE: JUBLFOOD
ISININE797F01012
Industry
Founded16 March 1995; 29 years ago (1995-03-16)
Headquarters
Noida, Uttar Pradesh
,
India
Number of locations
2,096 outlets[1] (2024)
Areas served
India, Nepal, Sri Lanka, Bangladesh and Bhutan
Key people
  • Shyam Sunder Bhartia (Chairman)[2]
  • Sameer Khetarpal (CEO and MD)[3]
Brands
ServicesMaster franchisee
RevenueIncrease ₹5,696 crore (US$680 million) (FY24)[4]
Increase ₹485 crore (US$58 million) (FY24)[4]
Increase ₹400 crore (US$48 million) (FY24)[4]
Total assetsIncrease ₹8,126 crore (US$970 million)[1] (2024)
Total equityIncrease ₹2,243 crore (US$270 million)[1] (2024)
Number of employees
34,120 [1] (2024)
ParentJubilant Bhartia Group
Subsidiaries
  • Jubilant FoodWorks Lanka
  • Jubilant Golden Harvest
  • DP Eurasia NV (49.04%)[5]
Websitewww.jubilantfoodworks.com

Jubilant FoodWorks Limited is an Indian food service company based in Noida, 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.[6] 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.[7]

History

[edit]

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.[8] Domino's Pizza India Private Ltd. was incorporated on 16 March 1995, and began operations in 1996.[9] The company opened India's first Domino's Pizza outlet in New Delhi in 1996.[10] The company changed its name to Jubilant FoodWorks Ltd in 2009.[9] It was headed by Ajay Kaul since 2005. Pratik Rashmikant Pota became the CEO from April 2017.[11] Pota announced his resignation in March 2022 and will step down in June.[12]

On 24 February 2011, Jubilant FoodWorks signed a master franchise agreement with American coffeehouse chain Dunkin' Donuts to operate the brand in India.[13] 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.[14][15] 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.[16][17] 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.[18][19] The company opened India's first Popeyes outlet at Koramangala, Bangalore on 20 January 2022.[20]

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.[21] 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."[22]

Acquisitions

[edit]

On 1 January 2021, Jubilant FoodWorks purchased a 10.76% stake in Barbeque Nation Hospitality Limited for ₹92 crore (US$11 million).[23] The company acquired a 35% stake in Mumbai-based food tech startup Thrive for ₹24.75 crore (US$3.0 million) in October 2021.[24]

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.[25][26][27] 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%.[28] 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.[29]

Domino's Pizza

[edit]

India

[edit]

The first Domino's Pizza in India opened in New Delhi in January 1996.[10] India surpassed the United Kingdom to become Domino's second-largest market in December 2014, behind the United States.[30][31][32] Domino's Pizza operates 1,995 stores across 421 Indian cities as of September 2024.[33]

Domino's began accepting online orders in 2011, and online orders accounted for approximately 18-20% of total sales by December 2013.[30][31][34] On 19 March 2014, the 700th Domino's Pizza outlet was opened at HUDA City Centre metro station in Sector-29, Gurugram, Haryana.[35] The company opened 47 new restaurants between January–March 2014 and 150 outlets in the 2013–2014 financial year.[36] Domino's opened its 1000th outlet at Unity One Mall, Janakpuri, Delhi in January 2016.[37]

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.[38] Potassium bromate was banned in India in June 2016.[39] 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.[40] 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
    A Domino's Pizza outlet in Panaji, Goa
  • Domino's outlet in Puri, Odisha
    Domino's outlet in Puri, Odisha
  • Domino's, next to a KFC, in New Market, Kolkata
    Domino's, next to a KFC, in New Market, Kolkata
  • Domino's delivery motorcycles in Noida, Uttar Pradesh
    Domino's delivery motorcycles in Noida, Uttar Pradesh
  • A Domino's delivery man in Delhi.
    A Domino's delivery man in Delhi.

Bangladesh

[edit]

Jubilant Golden Harvest Ltd., a wholly-owned subsidiary of Jubilant FoodWorks, operates Domino's Pizza outlets in Bangladesh. Jubilant Golden Harvest Ltd. was established in early 2019 with Jubilant holding a 51% stake, and Bangladeshi company Golden Harvest Group holding the remaining 49%.[41] The first Domino's Pizza outlet opened in Dhaka in February 2019.[42][43] In September 2021, Jubilant FoodWorks exercised its first call option to acquire an additional 39% stake in the joint venture taking its ownership to 90%.[44] On 22 March 2022, the company stated that it would exercise its second call option to acquire the remaining 10% stake.[45] Jubilant FoodWorks announced that it had taken complete control of the joint venture in May 2022. The cost of the two call options to acquire the 49% stake was BD৳38.90 crore (US$3.3 million). One share in Jubilant Golden Harvest remains with a company nominee in order to comply with Bangladeshi regulations.[46]

There are currently 37 Domino's Pizza outlets in Bangladesh.[47]

Sri Lanka

[edit]

Jubilant FoodWorks Lanka Pvt. Limited, a wholly-owned subsidiary of Jubilant FoodWorks, operates Domino's Pizza outlets in Sri Lanka. The first Domino's outlet opened in Colombo in February 2011.[48] There were 23 Domino's Pizza outlets in Sri Lanka as of December 2017.[49]

Dunkin' Donuts

[edit]

On 24 February 2011, Jubilant FoodWorks signed a master franchise agreement with American coffeehouse chain Dunkin' Donuts to operate the brand in India.[13] Jubilant FoodWorks opened India's first Dunkin' Donuts outlet in Connaught Place, New Delhi in April 2012.[36] Apart from donuts, Munchkins, and coffee, the chain also serves vegetarian and non-vegetarian hot and cold food.[50] Jubilant FoodWorks operates 21 Dunkin' Donuts outlets across 6 Indian cities as of 30 June 2023.[51]

Popeyes

[edit]

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.[18][19] The company opened India's first Popeyes outlet at Koramangala, Bangalore on 20 January 2022.[20][52]

Other brands

[edit]

Hong's Kitchen

[edit]

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.[16][17]

Ekdum!

[edit]

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 Gurugram, Haryana in December 2020.[53][54]

ChefBoss

[edit]

Jubilant FoodWorks launched its first FMCG brand, ChefBoss in August 2020, ChefBoss is the company's brand that offers a range of ready-to-cook sauces, gravies and pastes. ChefBoss provides the perfect base so that the home chefs can add their magic and whip up new dishes effortlessly. With ChefBoss, you can try different cuisines anytime at home with ease.' [55]

References

[edit]
  1. ^ a b c d "Jubilant FoodWorks Ltd. Financial Statements" (PDF). jubilantfoodworks.com.
  2. ^ "Corporate Governance - Board of Directors". Jubilantfoodworks.com. 30 September 2013. Retrieved 28 December 2013.
  3. ^ "Sameer Khetarpal joins Jubilant FoodWorks as CEO, managing director". Business Standard. Retrieved 9 July 2023.
  4. ^ a b c "Jubilant FoodWorks: Consumption pressure visible, in-line EBITDA" (PDF). HDFC Securities. Retrieved 19 February 2024.
  5. ^ "Jubilant Foodworks' WOS acquires additional 4.36% stake in DP Eurasia; stock gains ~1.5%". India Infoline. Retrieved 9 July 2023.
  6. ^ [1] [dead link‍]
  7. ^ "Jubilant Life Sciences". Jubl.com. 31 March 2013. Retrieved 28 December 2013.
  8. ^ Shmavonian, Karl. "Pharma and Fast Food Fuel the Jubilant Bhartia Group". Forbes. Retrieved 17 October 2021.
  9. ^ 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.
  10. ^ a b "Company History of Jubilant Foodworks". Moneycontrol.com. Retrieved 28 December 2013.
  11. ^ Bhushan, Ratna (2017). "Jubilant FoodWorks names Pratik Pota as CEO; to succeed Ajay Kaul". The Economic Times. Retrieved 28 August 2017.
  12. ^ "Pratik Pota resigns as CEO of Jubilant FoodWorks". Moneycontrol. 11 March 2022. Retrieved 12 March 2022.
  13. ^ a b Rasul Bailay (24 February 2011). "Jubilant FoodWorks ties up with Dunkin". Livemint.com. Retrieved 28 December 2013.
  14. ^ Kretzmann, David (21 December 2013). "How Domino's Is Poised to Benefit From India". Fool.com. Retrieved 15 January 2014.
  15. ^ "How Domino's Pizza, Inc. (DPZ) Is Poised to Benefit From India". Next iPhone News. 21 December 2013. Archived from the original on 7 January 2014. Retrieved 15 January 2014.
  16. ^ a b Tandon, Suneera (13 March 2019). "Jubilant FoodWorks adds Hong's Kitchen in India menu". Livemint. Retrieved 11 April 2020.
  17. ^ a b "Jubilant FoodWorks launches first homegrown eatery brand Hong's Kitchen". Business Standard India. Press Trust of India. 13 March 2019. Retrieved 11 April 2020.
  18. ^ a b Staff Writer (24 March 2021). "Jubilant FoodWorks sings deal with US-based restaurant brand Popeyes". mint. Retrieved 25 March 2021.
  19. ^ a b "Jubilant FoodWorks to bring US-based fast food chain Popeyes to India". Business Standard India. Press Trust of India. 24 March 2021. Retrieved 25 March 2021.
  20. ^ a b "Popeyes® Brand Arrives in India as Part of Continued International Growth". www.businesswireindia.com. Retrieved 12 March 2022.
  21. ^ "Domino's Pizza hack in India: What details were stolen and what happens next". WION. Retrieved 24 September 2021.
  22. ^ "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.
  23. ^ "Jubilant continues to broaden its food service scope; buys 10.76% stake in Barbeque Nation | Business News". www.timesnownews.com.
  24. ^ Bhushan, Ratna. "JFL to acquire stake in Thrive platform Hashtag Loyalty". The Economic Times. Retrieved 14 May 2022.
  25. ^ Bhushan, Ratna (19 February 2021). "Jubilant Foodworks to acquire Fides Food Systems through Netherlands-based arm". The Economic Times. Retrieved 25 March 2021.
  26. ^ Bureau, Our (19 February 2021). "Jubilant to acquire Dutch firm Fides Food for $35 million". @businessline. Retrieved 25 March 2021. {{cite web}}: |last1= has generic name (help)
  27. ^ Tandon, Suneera (19 February 2021). "Jubilant Foodworks to acquire Fides Food". mint. Retrieved 25 March 2021.
  28. ^ Market, Capital (1 November 2021). "Jubilant Foodworks' subsidiary to hike stake in DP Eurasia". Business Standard India. Retrieved 13 November 2021.
  29. ^ Market, Capital (3 March 2022). "Jubilant Foodworks update on merger of subsidiaries". Business Standard India. Retrieved 12 March 2022.
  30. ^ a b Kretzmann, David (21 December 2013). "How Domino's Is Poised to Benefit From India". Fool.com. Retrieved 28 December 2013.
  31. ^ a b "How Domino's Pizza, Inc. (DPZ) Is Poised to Benefit From India". Next iPhone News. 21 December 2013. Archived from the original on 30 December 2013. Retrieved 28 December 2013.
  32. ^ Tandon, Suneera (3 February 2015). "Pizza Hut to open 100 outlets in India to counter competition". Livemint.com/. Retrieved 8 January 2019.
  33. ^ "Company Profile". www.jubilantfoodworks.com. Retrieved 14 September 2024.
  34. ^ Kretzmann, David. "Why Domino's Digital Component Is Important". DailyFinance.com. Retrieved 28 December 2013.
  35. ^ "Domino's Pizza celebrates another milestone with the opening of its 700th Restaurant in India!" (PDF). Jubilantfoodworks.com. Archived from the original (PDF) on 14 July 2019. Retrieved 8 January 2019.
  36. ^ a b "Press Release -Financial Results for Q3 & 9MFY2020" (PDF). Jubilantfoodworks.com. Retrieved 11 April 2020.
  37. ^ Pizza, Domino's. "Domino's® Opens 1,000th Store in India". www.prnewswire.com (Press release). Retrieved 15 November 2021.
  38. ^ Patel, Deepak (24 May 2016). "KFC, Pizza Hut, Domino's, McDonald's outlets selling toxic breads: CSE study". Business Standard. Retrieved 8 January 2019.
  39. ^ "India bans use of cancer-causing additive, potassium bromate, in bread, other food | India News - Times of India". The Times of India. PTI. 21 June 2016. Retrieved 12 March 2022.
  40. ^ "WATCH: Delhi man finds live bugs in Domino's Pizza seasoning sachet; video goes viral". Indianexpress.com. 12 September 2017. Retrieved 8 January 2019.
  41. ^ "Jubilant FoodWorks enters Bangladesh market through JV with local partner". Business Standard India. Press Trust of India. 15 March 2019. Retrieved 12 March 2022.
  42. ^ "Domino's vows to be top pizza chain in Bangladesh". Dhaka Tribune. 15 March 2019. Retrieved 15 November 2021.
  43. ^ "Jubilant FoodWorks gains with Domino's Pizza witnessing record number of orders in Dhaka". Udaipur News. 25 March 2019. Retrieved 19 April 2019.
  44. ^ "JFL to acquire Golden Harvest's remaining 10% stake in Jubilant Golden Harvest JV". The Economic Times. Retrieved 14 May 2022.
  45. ^ "Jubilant Foods to buy remaining 10% stake in JV with Golden Harvest". Business Standard India. Press Trust of India. 22 March 2022. Retrieved 14 May 2022.
  46. ^ Market, Capital (11 May 2022). "Jubilant FoodWorks completes acquisition of balance 49% stake in Jubilant Golden Harvest". Business Standard India. Retrieved 14 May 2022.
  47. ^ "We are very delighted to announce that our dining is open again!". Domino's Pizza Bangladesh on Facebook. Retrieved 21 August 2020.
  48. ^ "First Domino's Pizza outlet opens in Colombo - Indian Express". archive.indianexpress.com. Retrieved 15 November 2021.
  49. ^ "Domino's opens outlet in Boralesgamuwa". Daily Mirror. Retrieved 9 November 2017.
  50. ^ "Delights for tough guys & vegetarians". The Economic Times. 15 May 2014. Retrieved 8 January 2019.
  51. ^ "Dunkin'". www.jubilantfoodworks.com. Retrieved 14 September 2024.
  52. ^ Livemint (19 January 2022). "Jubilant Foodworks opens first Popeyes outlet in Bengaluru". mint. Retrieved 12 March 2022.
  53. ^ Tandon, Suneera (16 December 2020). "Jubilant FoodWorks forays into biryani business with 'Ekdum'". mint. Retrieved 15 November 2021.
  54. ^ "Jubilant FoodWorks makes foray into Biryani segment with brand 'Ekdum!'". The Indian Express. 17 December 2020. Retrieved 15 November 2021.
  55. ^ "Jubilant FoodWorks enters the FMCG market with ChefBoss". Mint. 6 August 2020. Retrieved 6 August 2020.
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