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JFL ventures into Chinese Fast Casual segment with its first home-grown brand Hong's Kitchen

Posted On: 2019-03-13 13:06:09

Jubilant FoodWorks Limited (JFL), one of India's largest food service company, today announced the launch of its first own brand 'Hong's Kitchen'.

The latest venture marks JFL's entry into the Chinese cuisine segment, a large and fast growing segment in the Indian market. Hong's Kitchen has opened its first restaurant in Eros mall, Gurugram.

Speaking at the launch of the new brand, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, "We are delighted to introduce our first indigenous restaurant brand, 'Hong's Kitchen' to our customers. This launch underlines our confidence in the growth potential of the Indian foodservice market in the coming years. 'Hong's Kitchen' will help us venture into the Chinese cuisine for the first time and hence together with the existing brands of 'Dominos' and 'Dunkin' help build a stronger portfolio for JFL."

Sharing his views at the launch, Mr. Pratik Pota, CEO and Whole-time Director, Jubilant FoodWorks Limited said, "It gives us great pleasure to launch Hong's Kitchen in India today. While Chinese food is the second largest consumed cuisine in the country, there exists a vast gap between street vendors and premium finedining restaurants. Hong's Kitchen, with its Fast Casual format, will address this vast, unaddressed market through great-tasting and affordably priced Chinese food that's customized for Indian tastes."

The newly launched restaurant has a young, international-looking and trendy design that is inspired by the colours and the hustle of Asian street markets. It has an open kitchen which makes for a transparent, lively and engaging experience for customers. The restaurant has clearly separated areas for making Vegetarian and Non-Vegetarian food. Additionally, all ingredients are sourced from the best of suppliers, carefully selected for their commitment to quality, in line with JFL's high quality standards.

Shares of Jubilant FoodWorks Ltd was last trading in BSE at Rs.1349.45 as compared to the previous close of Rs. 1371.1. The total number of shares traded during the day was 49649 in over 2219 trades.

The stock hit an intraday high of Rs. 1382.1 and intraday low of 1343.6. The net turnover during the day was Rs. 67700289.


Source: Equity Bulls

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