Jubilant FoodWorks Ltd, which holds the franchise rights for Domino's Pizza and Dunkin' Donuts chains in India, will hike prices of its products by three per cent due to continued inflationary pressures, a senior executive from the company said. While announcing its second quarter results yesterday, Ajay Kaul, CEO, Jubilant FoodWorks Ltd,
said that the fast-food chain operator would continue with these "nominal" price increases in the backdrop of a growing economy. The company has effected around 6.5 per cent price hike so far this year, he said.
Last year the company raised prices of its Pizzas by 12 per cent largely on the back on input costs going up unabated. Kaul said the company has revised its target of opening 100 Domino's Pizza stores to 110 for the financial year 2013 and will open a total of ten Dunkin' Donuts stores in the same period, according to a report by Samidha Sharma in The Times of India. An investment of Rs 150 crore will go into the opening of these new stores, he said. Same store sales growth, an important yardstick in the retail sector, came in at 19.8 per cent.