Popular US-based Chinese food chain PF Chang’s is all set to make its way into India. Gourmet Investments, a company owned by the Bharti Family Office, has entered into an agreement to bring the brand to India, according to three sources with knowledge of the development.
This move is expected to further enhance India’s rapidly growing food and beverage industry.
Expansion in India
Gourmet Investments currently operates 16 restaurants in India, which includes popular brands like Pizza Express, Chili’s, and Ministry of Crab. The company is now in talks with prominent malls across India to secure space for PF Chang’s, which is known for its delicious Chinese food and unique dining experience.
India’s food and beverage industry has seen a rapid growth in recent years, with the entry of more than a dozen international brands, such as Pret A Manger, Tim Hortons, and Popeyes. The market is estimated to be worth $50 billion, with a projected growth rate of 10% annually. With the entry of PF Chang’s, the competition is expected to get even more intense.
History
PF Chang’s was founded in 1993 in Scottsdale, Arizona, and has since become a popular restaurant chain across the United States and several other countries. The restaurant is known for its signature dishes, such as the Chang’s Lettuce Wraps, Mongolian Beef, and Kung Pao Shrimp, as well as its distinctive decor, which includes a large horse statue at the entrance of each location.
The chain has received numerous accolades, including being named one of the “Top 100 Best Companies to Work For” by Fortune magazine for several years. It has also been recognized for its commitment to sustainability, with its “Farm to Wok” program that emphasizes the use of locally sourced and sustainable ingredients.
PF Chang’s is expected to make a significant impact on India’s food and beverage industry, as it brings its unique blend of Chinese cuisine and modern dining experience to the country. The brand’s success in other countries, including China, where it has several locations, suggests that it is well-positioned to make a splash in the Indian market.
Moreover, Gourmet Investments’ experience in operating successful restaurants in India gives PF Chang’s an added advantage, as the company is well-versed in the local market and understands the preferences of Indian consumers. This should help PF Chang’s tailor its menu and dining experience to better suit the tastes and preferences of its Indian customers.
The entry of PF Chang’s into India is a significant development in the country’s food and beverage industry.
With the brand’s reputation for quality and innovation, and the experience of Gourmet Investments in operating successful restaurants in India, this partnership has the potential to be a game-changer. The stage is set for PF Chang’s to become a household name in India, and we can expect to see a surge in the popularity of Chinese cuisine in the country in the coming years.