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Home > News > Retails News > Reliance Industries to enter fast-food business with its own brand next year |
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| Reliance Industries to enter fast-food business with its own brand next year |
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Reliance Industries, a
$50-billion-plus oil and gas giant, will enter the fast-food business
with its own brand next year, opening yet another front to do business
directly with India's growing young population after retail and 4G
wireless services.
Mukesh Ambani has roped in Rishi Negi, COO of multiplex operator Fame India,
which is partly owned by his younger brother Anil Ambani, to develop a
quick service restaurant (QSR) concept within 3-4 months, two senior
Reliance executives said.
Negi will spearhead Reliance's entry
into a segment that is growing at least 25% a year and where
international brands such as McDonald's and Domino's jostle to introduce
Indianised cuisines to take on popular local chains such as Jumbo King
and Saravana Bhavan.
Reliance is exploring a scaleable model
like McDonald's and Domino's, complete with a standardized menu and
express delivery, the executives said. It plans both independent outlets
and presence in food courts.
"The company is looking at
anything suitable for Indian palate, be it Chinese, Italian or Indian
cuisine," one of them said. The Reliance Industries spokesman declined to comment. The executives said the company has
zoomed in on Delhi, Mumbai and Bangalore as the tentative locations to
launch the business.
"With a hypermarket format already
attracting a large number of consumers, it makes sense to bundle in food
as well," one of the executives said. The company has already
experimented with a fresh bakery at its hypermarkets, Reliance Mart.
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