Jubilant Won’t Hesitate to Shut Domino’s Outlets to Cut Costs: CEO
New Delhi: Jubilant FoodWorks chief executive Pratik Pota has said the company will not shy away from closing Domino’s Pizza outlets if it helps in reducing cost. “We check profitability of stores, and if there is a possibility of a turnaround, we do it, otherwise we are unemotional about closure,” Pota told reporters.
Quick service chain Jubilant FoodWorks operates Domino’s Pizza and Dunkin Donuts brands in India. Pota, a former Pepsico executive, had joined the company in April. On how many stores will be closed, Pota said, “We do not see too many store closures, but we are critical about it. At Dunkin’ we are committed to reduce losses to half in the FY18.”
Pota said the company will also go slow on Domino’s expansion this year, with plans of opening 4050 stores this fiscal. The company has been opening, on average, more than 100 outlets every year over the last few years.
Meanwhile, Domino’s India will invest .₹ 100 crore to upgrade its products, which will include introduction of new pizza crust, toppings and new packaging.