Subway is aiming to expand speedily across India, Bangladesh and Srilanka. To execute its plans, the brand has signed a master franchise agreement with Everstone group (Everstone). With this move, Subway aims to open up over 2,000 new outlets in 10 years.
Earlier, Subway didn’t have a master franchise agreement in the domestic market and was operating 700 stores in India under SSIPL (Subway Systems India Private Limited). With this deal, Everstone will be responsible for operations, marketing and development of Subway in India.
John Chidsey, CEO, Subway, said, “Today’s announcement represents a significant step in Subway’s transformation journey and global expansion plans. Everstone, with extensive knowledge and proven restaurant operational expertise in the region, is the ideal partner as we begin this new chapter for Subway in India and South Asia.”
Mike Keheo, EMEA president, Subway, said, “The scale of this agreement is unprecedented and will ensure that Subway’s presence across India will more than triple over the next 10 years. We’ve seen huge demand from existing Subway guests in India and couldn’t be more excited to partner with Everstone to strengthen our presence and bring our beloved subs to even more Indian guests.”
Sameer Sain, founder and CEO, Everstone Group, said, “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. Everstone Group is delighted to be a partner and custodian of Subway in the region. We strongly believe that our significant experience in the QSR space, our strong digital focus, our ability to innovate, as well as our proven execution capabilities, will enable Subway to become a dominant player in the region.”