A unit of conglomerate Reliance Industries has agreed a deal to open outlets of Pret A Manger in India under a franchise arrangement with the British sandwich and coffee chain.
It marks the first venture by Reliance Brands, which owns India’s biggest retail chain, into the country’s fast-growing food and drinks industry.
Both companies said they planned to start opening branches of Pret in big Indian cities, starting with Mumbai before March 2023.
“Our partnership with Pret is rooted in the strong growth potential of both Pret as a brand… also of the food & beverage industry in India,” said Darshan Mehta, the Managing Director of Reliance Brands.
“We’re looking forward to working with them on what is our most ambitious global franchise partnership to date,” added Pret A Manger’s Chief Executive Pano Christou.
Analysts suggested that India could become one of Pret’s top markets in as little as three years.
Pret A Manger now has 550 outlets globally, including in the US and several European countries.
In India, the brand will compete with Starbucks, which has a joint venture with India’s Tata, and Costa Coffee, which is owned by Coca-Cola.
NAM Implications:
- A high-stakes game for each…
- …with lots of potential upside.
- And Pret experience to couple with the Reliance footprint and resources.
- One to watch!
