Subway today announced one of the “largest master franchise agreements in QSR history” as it moved to significantly expand its presence in South Asia.
The company signed a deal with private investment firm Everstone Group that will see hundreds of stores opened in India, Sri Lanka and Bangladesh over the coming years.
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 modern ‘Fresh Forward’ design and will offer numerous delivery and order ahead options.
“Today’s announcement represents a significant step in Subway’s transformation journey and global expansion plans,” said John Chidsey, CEO of Subway.
“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.”
Subway operates nearly 40,000 stores across more than 100 countries. Its restaurants are owned and operated by Subway franchisees, a network that includes more than 20,000 dedicated entrepreneurs and small business owners.
Mike Kehoe, EMEA president at 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.”
Subway said it plans to double the number of restaurants it operates in EMEA during the coming years.