Jubilant FoodWorks is investing more in Domino's rebranding to drive higher pizza consumption and increase the category's market share. The company has started a 360-degree rebranding campaign to increase brand visibility, particularly among Gen Z and young millennials. The plan involves a total rebranding effort, which includes a brand relaunch campaign featuring the tagline "It Happens Only with Pizza," updated packaging, and revamped store infrastructure. Approximately 100 stores are already being re-imagined by the brand, with completion expected by FY24-end.
Sameer Khetarpal, MD & CEO of Jubilant FoodWorks Ltd, expressed the company's primary focus on boosting investments in the Domino's brand. The Indian food services industry is estimated to be worth around $51 billion, yet the pizza sector accounts for just $1 billion of that. “Our responsibility as the top player is to increase the market share in the category. In a year, out of 1,000 times people have a meal, pizza is only eaten three times in the entire country. An integrated 360-degree communication approach enables Domino's to capture more market share by enhancing the customer experience,” he said.
In response to a question about the current demand trends, Khetarpal highlighted the fact that ticket sizes have started to show signs of improvement. “We can expect a modest increase in growth in the coming quarters once inflation is under control and employees receive their salary raises between April and May,” he added. Furthermore, he stated that the economy would experience a surge of funds due to the elections. Regarding managing inflationary pressures, Khetarpal explained that the company's strategy involves optimizing internal operations to enhance profit margins.
Inflationary pressures are making it difficult for the overall QSR sector in the country. Some players have highlighted the escalating competition they face from local rivals. The company's goal is to open 3,000 Domino's stores in the near future. The brand currently has 1,888 outlets in operation across India.