- November 6, 2021 / 5 min readIn the largest ever master franchisee agreement that happened in the QSR history, more than 2,000 new restaurants to open across India, Sri Lanka and Bangladesh in the next 10 years.
In the largest ever master franchisee agreement that happened in the QSR history, more than 2,000 new restaurants to open across India, Sri Lanka and Bangladesh in the next 10 years.
World’s largest QSR chain Subway is eyeing significant expansion in India, Sri Lanka and Bangladesh, as the company signed a master franchise agreement with Everstone Group (Everstone), a South Asia focused leading private investment firm.
The agreement is one of the largest master franchise agreements in QSR history.
Everstone, with expertise in growing and building brands in India and South Asia, will lead Subway on an ambitious growth trajectory, with a commitment to more than triple the number of restaurants in 10 years from the nearly 700 locations that exists today.
The new restaurants — as well as upgrades to existing locations — will adapt the company’s new, modern, and inviting “Fresh Forward” design and meet the needs of today’s consumer with comfortable guest indoor dining spaces as well as numerous delivery and order ahead options, with a strong digital first strategy.
“Today’s announcement represents a significant step in Subway’s transformation journey and global expansion plans,” said John Chidsey, Chief Executive Officer of Subway by adding that Everstone with extensive knowledge and proven restaurant operational expertise in the region, is the ideal partner as they begin this new chapter for Subway in India and South Asia.
In EMEA, Subway plans to double its number of restaurants across the region in the coming years and will continue to seek strong partners to support the brand on its journey.
“Subway is an iconic brand and its philosophy of freshly made-to-order and better-for-you food delivered at-home and in-store is central to one of the greatest structural consumer trends we see in South Asia,” said Sameer Sain, Founder and CEO, Everstone Group.
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