In 2009, Domino’s Pizza India Ltd. changed its name to Jubilant FoodWorks Ltd. (JFL) in a bid to project the company as a full-edged food services company rather than just a franchisee of the US pizza giant.
“We believe that the food service industry has potential for significant further growth and we plan to leverage our market position and experience in the food services industry ... The name change is also in sync with this ambition of ours,” Ajay Kaul who was the CEO of the company at the time had said.
However, according to market watchers and analysts, even after 14 years since the rebranding the Noida-based company still dominantly relies on Domino’s for its growth as the company operates around 1,900 stores of the brand. According to sources, the pizza chain accounts for more than 90% of JFL’s revenues and number of stores. The company declined to comment on the numbers but said Domino’s accounts for a dominant share of the company’s sales.
“Jubilant obviously is a play on the pizza category at present as their plans to expand into other categories did not work out for them,” said Aliasgar Shakir, Vice President at Motilal Oswal Financial Services. Shakir, the lead analyst for telecom and retail at the brokerage rm, tracks JFL as part of his coverage.
The Misses
JFL has so far failed to concoct a winning formula for Dunkin’, its other US brand franchisee, and has changed the model several times.
The company initially planned to end a winning recipe for the brand
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