New Delhi — One of the wealthiest men in the world launches Pret A Manger in India, adding a British coffee and sandwich store brand to a huge business empire that spans energy, retail and telecommunications.
A unit from Reliance Industries, a conglomerate of Mukesh Ambani, signed a “long-term master franchise partnership” with Pret a Manger on Thursday and said it would “launch and build a brand in India.”
Darshan Mehta, Managing Director of Reliance Brands, said in a statement that the partnership is rooted in the “strong growth potential” of the Pret brand and the Indian food and beverage industry.
With a population of 1.3 billion and rapid growth, India is an important market for international food brands, including coffee shops. In 2012, Starbucks (SBUX) opened its first store in the country in partnership with a unit from the Tata Group, India’s largest conglomerate.
Mehta said Pret A Manger, which means “ready to eat” in French, has strong brand awareness in South Asian countries.
Pret A Manger opened in London in 1986 and now has over 500 shops in the UK, US, France, Dubai and Hong Kong. In September last year, we announced plans to double the scale of our business within five years, including entering five new markets by the end of 2023.
The Reliance brand said it would “open the food chain across the country, starting with major cities and travel hubs,” but spokesmen refused to share the details.
This is not the first time Ambani has signed a deal with a major British brand. In 2019, Reliance bought the iconic toy store Hamleys from Chinese owner C Banner International for around £ 68m ($ 88m).
According to the Bloomberg Billionaires Index, Ambani is currently worth $ 93 billion, the second wealthiest Indian in the world and the ninth wealthiest. — CNN
https://saudigazette.com.sa/article/622469/BUSINESS/Mukesh-Ambani-is-bringing-UK-sandwich-chain-Pret-A-Manger-to-India?ref=rss&format=simple&link=link Mukesh Ambani Brings British Sandwich Chain Pret A Manger to India