International fast-food chain Papa John's has launched its first outlet in Chennai. The brand has been brought into the country by its master franchisee for India, Om Pizzas and Eats India Pvt Ltd. This brings the total number of outlets in the country to 37.According to Sanjay Coutinho, CEO of Om Pizzas, Papa John's is the third largest pizza chain in the world, after Pizza Hut and Domino's. In India, Om Pizzas has invested over Rs 100 crore, and the Chennai-based private equity investor TVS Capital Funds took Rs 50-crore exposure (43 per cent stake) in this venture in 2010. Coutinho further said, that the company plans to focus on Tier-I and Tier-II cities for now. “We may take the total number of outlets to 50 in the next couple of years, and our long-term plan is to have 100 outlets in India,” he said. It costs Rs 75 lakh on an average to set up a store, he added. Speaking about how the company is plans to fund its expansion, he said, “TVS Capital has committed to pumping in more money as and when required.”
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