The UK sandwich brand Pret A Manger Ltd. intends to enter India through a partnership with Reliance Brands Ltd., calling it its “most ambitious global franchise partnership.”
According to a joint statement sent through email, Reliance Brands, a unit of the oil-to-telecoms conglomerate owned by the Mukesh Ambani family, will introduce and develop the Pret brand in India. Over the following five years, up to 100 Pret outlets could operate in India, with roughly 10 of those set to debut in busy tourist areas and major cities in the first year.
At a time when Pret’s own market is experiencing escalating economic difficulties, the expansion into India offers growth opportunities.
Consumers are currently being squeezed by price increases on everything from groceries to gasoline. Pret is growing in the suburbs of the UK and providing more economical options.
In 1986, Pret launched its first location in London. The brand has 550 stores worldwide in nine markets, including the US, Europe, and Asia. It is currently a division of JAB Holding Co. Twenty years ago, it opened its first store in Asia.
Reliance Brands, which has years of market experience, is “a great partner to support us,” according to Pret Chief Executive Officer Pano Christou.
According to the announcement, the agreement represents Reliance Brands’ entry into the food industry.
The company has additional retail ventures, notably in the high-end market, where it collaborates with numerous companies, including Tiffany, Burberry, and Coach.
Despite an increase in visitors, the UK’s largest rail strike in three decades recently affected sales in London’s financial districts.