Jubilant FoodWorks-owned Domino's is looking to create European-styled pizzas and has reportedly roped in Michelin-starred chef and host of television show MasterChef India,Vikas Khanna to introduce gourmet products to boost revenue and profitability.
According to a report in the Economic Times, Khanna who will also be the brand ambassador for Domino's will promote the new range of pizzas and snacks across his his Facebook page, Twitter handle, on television and on cookery shows.
Pizza's created by Khanna will cost anywhere between Rs 250 and Rs 500 and will be sold and delivered across Domino's 897 restaurants in 203 cities in the country.
Khanna's tryst with food began with his grandma's kitchen in Amritsar, followed by volunteering work at kitchens of the Golden Temple during langar. He then began a catering business at the age of 17 and today he is the Executive Chef and Brand Ambassador of Michelin-starred restaurant, Junoon in New York and Dubai, as well is an international celebrity representing Indian cuisine globally.
In fact, shares of Jubilant Foodworks today jumped 2.3 percent after a report from global brokerage BoFA ML raised its price target on the fast food retailer to Rs 2,100 r a share.
BoFA ML expects Jubilant Foodworks, to post same-store sales growth between 6-7 percent in the first quarter stating that Quick Service Restaurants (QSR) industry is close to a cyclical resurgence and the Domino’s franchise owner will be a key beneficiary.
According to the brokerage, Jubilant stands out among its peers its due to its widest reach in tier 2/3 cities, leadership in the delivery segment, especially in metro cities, proven supply chain and strong balance sheet.
The company posted net profit of Rs 31.5 crore in the January-March quarter, up 26 percent from Rs 25 crore in the corresponding quarter last fiscal. During the quarter, it added 38 new Domino's restaurants and 8 new Dunkin Donut restaurants.
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Updated Date: Jul 03, 2015 12:09:13 IST