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Newly launched Domino's Pizza in Bangladesh breaks global record in first week

Posted On: 2019-03-23 11:16:47

Domino's Pizza (NYSE: DPZ), the largest pizza company in the world based on global retail sales, is continuing its global growth momentum with the recent opening of its first restaurant in Bangladesh. The customers in Dhaka have warmly welcomed the brand. Within its first week of operations, Domino's Pizza witnessed a record number of orders, which is the highest for the brand across its network in 85 countries.

Domino's Pizza has entered Bangladesh through a joint venture between the master franchisee Jubilant FoodWorks Limited (JFL), one of India's largest food service company, and the local operator Golden Harvest QSR Limited, a part of Golden Harvest Group. The brand is operating under the JV named Jubilant Golden Harvest Limited. With the opening of the restaurant, residents of Dhaka can now enjoy hot, freshly-baked pizza in-store or order a take away.

The first restaurant has been opened in Dhanmondi area of Dhaka, and features the new pizza theater design, refreshing and inviting interior, stylish seating as well as a front row seat to watch all the action of pizza-making. Additional locations are planned for later this year.

"The Jubilant management team, together with their local operator Golden Harvest, bring extensive operational experience, and we're fortunate to have them bring this experience to Bangladesh," said Mr. Joe Jordan, executive vice president of Domino's International. "Domino's is building beautiful pizza theaters across the world, and we're happy to bring these stores to Dhaka." he added.

Mr. Pratik Pota, CEO & Whole time Director, Jubilant FoodWorks Limited said, "We are delighted to share that Domino's Pizza Dhaka has witnessed the highest pizza orders ever to be registered by any new store globally in its first week. This achievement is a reflection of the acceptance of our pizzas, both international bestsellers as well as the ones specially developed for the Bangladesh market, and our attractive value for money pricing. We look forward to growing our presence in Bangladesh and being able to serve many more consumers across the country."

Mr. Rajeeb Samdani, Managing Director, Golden Harvest said, "This is an amazing feat that Domino's Pizza has achieved in Bangladesh. This record reflects the love of the Bangladesh pizza lovers towards Domino's, we are humbled to have been an integral part of it. We aim to be number 1 in pizza market, following this wonderful beginning, our belief has strengthened to achieve the same over the period of time."

Domino's now operates in more than 85 markets worldwide, with more than half of its global retail sales coming from international stores.

Shares of Jubilant FoodWorks Ltd was last trading in BSE at Rs.1428.95 as compared to the previous close of Rs. 1401.05. The total number of shares traded during the day was 98397 in over 3303 trades.

The stock hit an intraday high of Rs. 1438 and intraday low of 1405. The net turnover during the day was Rs. 140292238.


Source: Equity Bulls

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