Financial Daily from THE HINDU group of publications
Friday, Apr 08, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 08, 2005 |
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Marketing
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Retailing Chinese fast-food chain Mark Pi plans 100 outlets in 2 years Our Bureau
New Delhi , April 7 MARK Pi, the Chinese fast-food chain, plans to open 100 outlets within two years, of which 80 would be franchisee-owned. After opening its fifth outlet at Ludhiana, it now plans to take the Mark Pi brand name to Jammu, Kanpur, Lucknow and Agra with an investment of Rs 15-50 lakh per outlet. Acknowledging the immense opportunity that a franchisee model offers, CEO Mr Karana Verma said in a statement, "We entered India with a clear strategy of expansion through the franchisee route. We believe in creating wealth and making our business partners profitable. That has been our core philosophy." Mark Pi International, the US-based parent company, claims to be among the top five players in the Chinese fast food segment in North America. Headquartered at Columbus, Ohio, the Mark Pi International Group operates 50 restaurants and has a turnover of Rs 500 crore.
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