April 26, 2012 (LBO) – India’s Jubilant FoodWorks Limited, regional franchise holder for Domino’s Pizza, is investing 300 million rupees in Sri Lanka in 2012, and would spend up to two billion rupees over the next five years to support growth, an official said. “We are extremely bullish on Sri Lanka, the economy has shown two-years of eight percent growth since the conflict ended (in May 2009) and per capita income exceeds 2,000 dollars,” Ajay Kaul, Chief Executive of Jubilant FoodWorks Limited said in an interview in Colombo.
“We are seeing a lifestyle shift with more women and upwardly mobile young people joining the workforce, creating a demand for fast foods.”
Jubilant FoodWorks Limited, a master franchise operator for South Asia is building a factory north of Colombo.
Jubilant is banking on growing demand in five-years, led by a growing middle-class and more young people with greater disposable incomes.
With two-outlets under its belt in Sri Lanka, the US-based pizza chain, hopes to open up to 30 outlets across key urban towns within the next five-years.
Domino’s which operates under the slogan of ’30 minute delivery or free’, earlier operated in Sri Lanka through an agent. Jubilant changed the equatio