Burger King is a global chain of Hamburger Fast Food
Restaurants headquartered in unincorporated Miami-Dade County, Florida, United
States. The company began in 1953 as Insta-Burger King. Its two Miami based
franchises, David Edgerton and James McLamore, purchased the company, and named
it Burger King. The company became public in 2002 and it had over 13000 outlets
in 79 countries. In 2010, 3G Capital of Brazil acquired a majority stake in BK
in a deal valued at US $3.26 Billion.
In recent news, Burger King will open its first few outlets
in India by the end of this year. Company aims to make India, along with China,
its biggest market in Asia-Pacific. The outlets will come up in Mumbai and NCR.
Coming at a time when rivals like McDonald’s, Domino’s and Yum brand have
established a long lead here. Burger King will look to penetrate the untapped
smaller towns to gain a toehold in the market. China and India will be two
growth engines for the company.
Burger King has a joint venture with Everstone group; a
Singapore based private equity and real estate group, to open a few hundred
stores in next ten years in India. Burger king formed a joint venture in 2012
to open 1000 restaurants in China by 2015. It recently started selling burgers
in Pakistan and Brunei.
Currently, almost 40% of the western fast-food market by
value sales lies between Delhi NCR and Greater Mumbai. Burger King and
Everstone may look to sub-franchise the brand for airport and railway retailing at a later stage.
While Burger King offers vegetarian burgers and spicy bean burgers in UK and
Canada, it will unveil a segregated vegetarian menu in India. Nearly two-thirds
of Indians now eat out at least once a week, boosting the growth of restaurant
industry, which is expected to touch $26 Billion in 2015.
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