- By Peter Hoskins
- Business reporter
Image supply, Pret A Manger India
UK-based espresso and sandwich chain Pret A Manger has turn into the newest high-profile Western model to launch in the Indian market.
The agency opened its first store in India’s monetary hub Mumbai on Friday.
It comes in the identical week that US know-how big Apple launched its first two shops in the nation.
Pret mentioned final 12 months that it was partnering with a unit of Reliance Industries, which is owned by India’s richest man Mukesh Ambani.
Pret’s chief govt Pano Christou mentioned its providing in the nation will replicate the corporate’s model “while also adapting to local preferences and food habits”.
It marks the primary enterprise by Reliance Brands, which additionally owns India’s greatest retail chain, into the nation’s rising meals and drinks business.
Reliance mentioned its first outlet is a recreation of Pret’s UK outlets.
The outlets can be geared toward “the new Indian consumer”, Darshan Mehta, the managing director of Reliance Brands mentioned.
The opening of the shop in the monetary centre Mumbai on Tuesday was adopted by a second outlet in the capital Delhi on Thursday.
Pret A Manger, which suggests “ready to eat” in French, was based in London in 1983, with the primary store opening the next 12 months.
After the unique firm went into liquidation the model was purchased by faculty pals Sinclair Beecham and Julian Metcalfe, with their first retailer opening in 1986.
The model at the moment has 400 shops around the globe, throughout 9 markets together with the UK, US, Europe, Middle East and Asia.
Reliance Brands operates greater than 2,000 shops throughout India.
The deal helped to cement Reliance’s place as India’s largest bricks and mortar retailer.
Mukesh Ambani is India’s richest particular person
Who is Mukesh Ambani?
Mr Ambani has a private fortune of round $84bn (£67.5bn), in keeping with Forbes journal.
The 65-year-old’s late father Dhirubhai Ambani based a textile producer that will ultimately turn into Reliance Industries.
It is now one among India’s largest conglomerates – with companies together with petrochemicals, oil and gasoline, telecoms and retail.
Mr Ambani is the chairman of Reliance Industries. The Ambani household has a 49% stake in the corporate.
The household additionally owns property in the UK value tens of thousands and thousands of kilos.
Two years later, Reliance purchased the historic British nation membership Stoke Park for £57m.
