NEW DELHI: American QSR restaurant chain Figaro’s Pizza has partnered with market entry firm FranGlobal for their India foray. The brand plans to open 250 stores in India over the next four years.
FranGlobal will work with Figaro’s team for menu and product development. “We have already started working with real estate developers for initial key locations,” FranGlobal said, adding the company is looking to acquire different brand assets under a Master Licensee or Franchise structure over the next few years.
According to Venus Barak, CEO, FranGlobal, the acquisition of Figaro’s Pizza is a turning point in the company’s asset business as the primary pizza market is currently dominated by two legacy American players ‘Domino’s ‘ and Pizza Hut alongside local chains.
“You will find this quite skewed in comparison with the burger/sandwich market. With more than forty years in the business in the US and globally, Figaro’s has inherent strong SOPs and strengths which if accompanied with local market variables can become a powerful offering to our partners and customers,” Barak said.
Ron Berger, CEO - Figaro’s Pizza, said, “We aim to expand planet-wide. The management team has extensive experience in the Middle East, Africa, Europe, and Latin America, and is pushing for rapid global expansion.”
Founded in 1981, Figaro’s started with the ‘take-and-bake’ pizza concept.