Popeyes' strategy of concentrating in the southern belt is similar to what its direct competitor in India and globally, KFC...
Digital Desk: Popeyes, an American quick-service restaurant brand, plans to open 250 outlets across India in the next 4-5 years, with 50 opening in FY24. This comprises the company's 12 locations in Bengaluru and one in Chennai.
Popeyes entered India in partnership with Jubilant FoodWorks in January 2022 and has so far focused on the southern regions of the country, thanks to a relatively larger meat-eating population — in Tamil Nadu, for example, where 97.9% of people consume meat once a week, as opposed to Gujarat, where the percentage is much lower at around 28%, stated Sameer Khetarpal, CEO and MD, Jubilant FoodWorks.
On average, over 70% of the country's population consumes meat once every week.
Popeyes' strategy of concentrating in the southern belt is similar to what its direct competitor in India and globally, KFC, did during its early years in the mid-to late-1990s. KFC currently has 38 outlets in Bengaluru.
Popeyes is currently relying on its core product, Cajun spiced chicken and sandwiches, to delight the Indian palate and popularise its meals. It even upped the spiciness of its offerings and brought rice-based cuisine to the country. "Our goal is not to Indianize our menu. The aim is to maintain the brand value in all areas that we enter and items that we sell," Khetarpal explained.
The company believes that the fried chicken market in India is worth over '4,200 crores and is growing at a compound annual growth rate (CAGR) of 18%.
Popeyes hiked its prices in India by around 4% over the previous year, moving away from its initial prices, but it won't be seeking any additional price increases.