WIB to invest US$50 million for expansion of KRR and Jollibean brands in India.
Berjaya Food Bhd (BFood) is expanding its business by opening 30 Kenny Rogers Roasters (KRR) restaurants and 75 Jollibean kiosks in India.
The outlets will progressively roll out within the next 5 years as BFood and India's World Iconic Brands Hospitality Pte Ltd (WIB) signed a memorandum of understanding (MoU) for the expansion of the brands.
WIB, the agency responsible for the commercial development of Jollibean and KRR brands in India is investing US$50 million (RM205 million).
WIB is owned by Franchise India Holdings Ltd, an integrated franchise solutions company that manages 400 brands in India.
BFood own the KKR and Jollibean brands, and after Singapore, India will mark the first overseas market for Jollibean.
Sydney Quays, CEO, BFood group, has said that the company will focus more on growing Jollibean.
Quays further stated, “India is a stepping stone for us to go into many countries. We have a lot of interest from Southeast Asian countries. Out of Singapore, the potential for Jollibean is strong in the franchise environment. In the future, we’re looking at our FMCG business, which we’re trying to get soy into the market. This augurs well for people who take up our franchise. They have the first right of refusal to distribute (soy) in the retail business”.
Gaurav Marya, Managing Director, WIB, said, “We’ll spend the next six to eight months to get the model right, understand the preference of consumers and we will scale up the business”.