Fin24.com
2013-03-14 09:29:25 AM
Johannesburg – Listed South African group Famous Brands [JSE:FBR] has announced its expansion into India with the launch of its pilot Debonairs Pizza restaurant scheduled for opening in Mumbai in July 2013.
In the short-term‚ five restaurants will be opened in Mumbai‚ India’s main economic hub and its wealthiest city‚ featuring the highest GDP of any city in South‚ West or Central Asia‚ the group said on Thursday.
Famous Brands has appointed a master license partner in the territory to manage the business on behalf of the group.
Famous Brands Chief Operating Officer‚ Darren Hele‚ said “entering the Indian market is as much about our partners as it is about the market. They will give us local knowledge advantage which is critical to the sustainability of this venture.”
The master license agreement has been concluded with family-owned Diwa Hospitality‚ a subsidiary of the Parekh Group conglomerate‚ which was founded 50 years ago and specialises in shipping‚ logistics and hospitality.