News

Burger King plans entry into India

October 25, 2013

Reports have surfaced about Burger King's planned entry into India, one of the fastest-growing markets in the world. A story in the India Times said the brand will debut in the country through a majority ownership by Everstone Capital, a private equity firm. The chain will expand through a franchising partnership with Rajeev Varman, CEO of its United Kingdom system, and will also hold a minority stake in the franchisee.

The story adds that Everstone's investment is expected to be about $100 million, which will be used to grow Burger King to 500 units within the next seven to 10 years.

An official announcement is expected soon. Burger King will be among the last major U.S. QSRs to enter the growing market. McDonald's, Yum! Brands, Subway and Dunkin' Donuts are already positioned in the country. Earlier this week, Yum! Brands announced it was investing $10 billion in India.

India is expected to have the largest consuming class in the world by 2030, and the country's consuming class is predicted to double in the next five years. The eating-out market is estimated to be $94 billion and only 2 percent is organized with national and international food retail brands.

Read more about franchising and growth.