Reliance Industries of India announced a franchise partnership with Pret A Manger on June 30 to launch and build the British sandwich and coffee chain in India, marking the company’s entry into the booming food and beverage industry. It marks the first venture by Reliance Brands, which also owns India’s biggest retail chain, into the country’s growing food and drinks industry.
First Pret store to be open in Mumbai
According to a statement, Reliance Brands Ltd (RBL) plans to launch the food chain across the country, beginning with major cities. Reliance will open the first Pret store in Mumbai, India’s financial capital, before March 2023, a source with direct knowledge told Reuters.
The companies expect India to be one of Pret’s top three markets in the world within three years, according to the source, who declined to be identified because the plans are not public.
“Our partnership with Pret is rooted in the strong growth potential of both Pret as a brand… also of the food & beverage industry in India,” Darshan Mehta, the managing director of Reliance Brands said in a statement.
“We’re looking forward to working with them on what is our most ambitious global franchise partnership to date,” Pret A Manger’s chief executive Pano Christou added.
Pret is run by India’s richest men
Pret is owned by investment group JAB and founder Sinclair Beecham. Run by one of India’s richest men Mukhesh Ambani, Reliance, through RBL, already has a number of partnerships with global luxury brands such as Burberry and Jimmy Choo via franchises and joint ventures.
About Pret A Manger
Pret A Manger, which means “ready to eat” in French, was founded in London in 1983, with the first shop opening the following year.
After the original company went into liquidation the brand was bought by college friends Sinclair Beecham and Julian Metcalfe, with their first store opening in 1986.
The brand currently has 550 outlets around the world, across nine markets including the UK, US, Europe, and Asia.
