Franchising

Subway signs big deal for India, Sri Lanka, Bangladesh

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November 3, 2021

Subway is deploying a significant expansion in India, Sri Lanka and Bangladesh with a master franchise agreement with Everstone Group, a South Asia leading private investment firm, according to a press release.

Under the agreement, the brand plans to triple the number of restaurants in those countries within the next 10 years. Currently there are nearly 700 locations.

The restaurants — as well as upgrades to existing locations — will adapt the company's modern and inviting "Fresh Forward" design with a strong digital first strategy.

"Today's announcement represents a significant step in Subway's transformation journey and global expansion plans," John Chidsey, chief executive officer of Subway, said in the release. "Everstone, with extensive knowledge and proven restaurant operational expertise in the region, is the ideal partner as we begin this new chapter for Subway in India and South Asia."

"Subway is an iconic brand and its philosophy of freshly made-to-order and better-for-you food delivered at-home and in-store is central to one of the greatest structural consumer trends we see in South Asia," Sameer Sain, Founder and CEO, Everstone Group, said in the release. "Everstone Group is delighted to be a partner and custodian of Subway in the region. We strongly believe that our significant experience in the QSR space, our strong digital focus, our ability to innovate, as well as our proven execution capabilities, will enable Subway to become a dominant player in the region."

This agreement is part of Subway's multi-year transformation journey to improve across all aspects of the brand as the business expands around the world. Subway plans to double its number of restaurants across EMEA in the coming years.