MUMBAI, June 30 (Reuters) – Reliance Industries (RELI.NS) said on Thursday it will open Pret A Manger outlets in India under a franchise agreement with the British sandwich and coffee house chain , a first foray of the Indian company into the country. growth of the food and beverage industry.
Reliance Brands Ltd (RBL), a unit of the conglomerate which also runs India’s largest retail chain, would start by opening branches of Pret, as the brand is known in Britain, in major Indian cities, the two said. companies.
RBL chief executive Darshan Mehta said in a joint statement that the partnership was “rooted in the strong growth potential” of the Pret brand, known for its organic coffee and premium sandwiches, and the Indian industry. foods and beverages.
The first outlet would open in Mumbai before March 2023 and India is expected to become one of Pret’s top three markets within three years, a source familiar with the matter told Reuters.
Pret A Manger, whose name means “ready to eat” in French, opened in London in 1986. It now has 550 outlets worldwide, including the United States and several European states. It is owned by investment group JAB and founder Sinclair Beecham.
In India, the brand will compete with Starbucks (SBUX.O), which has a joint venture with India’s Tata, and Costa Coffee, which is owned by Coca-Cola (KO.N).
Mukesh Ambani, one of India’s richest men, runs Reliance, which has more than 2,000 supermarkets and grocery stores in India. Reliance also has partnerships with luxury brands, such as Burberry and Jimmy Choo. Read more
“Reliance wants to look at retail in all its forms. Over time, they have realized that partnerships are the way for retail formats that can be difficult or slower to crack,” said Devangshu Dutta, Director of retail consulting firm Third Eyesight.
Reporting by Aditya Kalra and Abhirup Roy; Editing by David Evans and Edmund Blair
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