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Subway targets to have 1,000 outlets in India by 2015

Delhi,Business/Economy, Tue, 01 May 2012 IANS

New Delhi, May 1 (IANS) Restaurant chain Subway Tuesday said it is targeting to raise the number of its outlets in India from the existing 263 to 1,000 by 2015 with an investment of $58 million.


The US-based company, present in 50 cities, will be targeting smaller Indian towns.


It aims to generate employment opportunities for another 15,000 people through this expansion in India.


"India is a promising business destination with a young, educated population having growing disposable income. Increased awareness and purchasing power are making the people seek quality products and aspire for better lifestyle," Fred DeLuca, president and co-founder of Milford, Connecticut, US headquartered Subway, said in a statement.


"Subway will continue to evolve and adapt its product offerings to suit the Indian taste. Our focus however would always be health, freshness and quality," DeLuca said.


He said the company aimed to expand its presence in India through franchise route. "Indians are entrepreneurs par excellence. That is what makes Subway positive on achieving its targets for India."


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