Jubilant Food Works Ltd (JFL), the leading giant operating food retail chains like Dominos and Dunkin Donuts in India is in discussions to endow over Rs 100 crore in Dominos within the period of next one year to add new offerings and focus on marketing.
Pratik Pota, CEO of JFL, said, "We will invest nearly Rs 100 crore behind the upgrade. We will offer superior products at the same price points. We believe with this product upgrade, we will expand Domino's franchise."
He further added, "We will absorb this cost from the benefit of input tax credit under GST and cost efficiency."
The company said that there will be no price burden increase for its customers and they will get to enjoy new variety in their products.
The company also plans to add 40-50 more outlets of Dominos all over the country within a year.
Pota responded on the companys plans to shut Domino's Pizza stores: "Our focus is on store profitability. However, we don't expect to close many stores. At present, there are only a handful of outlets that are not profitable".
The company also reported that they have closed down 20 Dunkin Donuts outlets last year.
Pota said while referring to Dunkin Donuts brands that, "Our focus is to reduce our losses in Dunkin' Donuts by half this fiscal year and reach break-even point next year."