Source: ETRetail.com, Oct 07, 2019
MUMBAI: Fast food chain Burger King posted a 66% growth in sales in India in the year to March 2019 and significantly narrowed losses on the back of aggressive expansion, entry level pricing and largest vegetarian menu within global quick service restaurant chains.
The US chain that entered the Indian market in 2014 posted sales of Rs 644 crore in FY18-19 while its losses reduced to Rs 16 crore. A year ago, it had sales of Rs 389 crore with net loss of Rs 63 crore, data sourced from Veratech Intelligence showed. For Burger King, India has been the fastest growing market in terms of store expansion.
Last fiscal, it added about 58 stores, taking the store count to 187. Read the rest of this entry »