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Connaught Plaza Restaurants Pvt Ltd (CPRL), the master franchisee of McDonald's in North and East India, has announced aggressive plans to double its number of stores to 600 by 2030. This growth is supported by a huge investment of up to $150 million, which will be used to upgrade existing outlets and enter new markets. Here's a detailed rundown:
Aggressive Growth Strategy:
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CPRL aims to grow its store base from the existing 245 to 300 by 2025, and then double it to 600 by 2030.
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The growth will be in metro cities as well as Tier III cities, with smaller-format stores that will serve various demographics.
Investment Details:
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The $150 million investment would be used to open new stores and remodel older stores to the "Experience of the Future" (EOTF) format2.
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The aim of modernization is to drive customer experience and operational efficiency.
Concentration in Tier III Cities:
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CPRL is eyeing upcoming markets in cities such as Gangtok, Siliguri, and Guwahati, where there is increasing demand for international QSR brands.
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Smaller-format stores, ranging from 1,800 to 2,000 square feet, will be introduced to optimize space and costs.
Expansion of McCafe:
The in-restaurant café brand McCafe will grow from 125 outlets to 200 by the end of 2025, further diversifying CPRL's offerings2.
Market Potential:
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CPRL's Vice Chairman, Anant Agarwal, emphasized the untapped potential in North and East India, describing these regions as "under-penetrated".
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The expansion will drive sales and solidify McDonald's presence in India.
Future Vision:
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CPRL's vision for McDonald's India is supported by McDonald's global vision of customer-first growth and innovation, which will lead to long-term success in the competitive QSR segment.
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The bold vision reflects CPRL's focus on growing McDonald's presence in India while evolving to changing consumer needs.
Sources: MSN, Moneycontrol, Rediff, The Week
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