Jubilant FoodWorks' Popeyes - Right Ingredients For Significant Ramp-Up: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.We returned impressed from Popeyes first store in Chennai (Phoenix Mall, Velachery), which marks its entry into Chennai and expansion from Bangalore (12 stores), in the fried chicken market. The store atmosphere is appealing with vibrant colours and a contemporary look and feel, self-ordering kiosk, good lighting and highest seating capacity amongst Popeyes India outlets (with a separate section for ‘open to sky’ table seating). These features differentiate the store look with a superior proposition (picture of the store, menu details, etc. on pages 3-4). Its Cajun flavour offerings are unique in India quick service restaurant and we reckon it has high probability of consumer acceptance. A casual positioning (set between fast food and casual dining) fits well with Jubilant FoodWorks Ltd.’s strengths – focusing on value for-money and delivery. We forecast Jubilant FoodWorks to add more than 100 stores in FY24. The market may eventually expand to accommodate both brands - Popeyes and KFC; however, KFC does have an air-pocket to tackle for now as we assign high probability of new Popeyes stores in same catchment as KFC. Devyani International Ltd. and Sapphire Foods India Ltd. may potentially face some growth headwinds in interim..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Jubilant FoodWorks' Popeyes - Right Ingredients For Significant Ramp-Up: ICICI Securities

Some impact for KFC is inevitable

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