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New Update
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BY A STAFF REPORTER
RIL in talks to buy Subway India franchise for up to $250 mln. Reliance Industries Ltd is in talks to acquire American quick-service restaurant operator Subway Inc's franchise in India for $200 mln-$250 mln, The Economic Times reported today.
Subway's business in India is run through several regional master franchisees.
Globally, the company is undergoing a restructuring exercise that involves shifting of headquarters, and slashing costs and global headcount amid falling sales, warring franchisees, and growing speculation of a worldwide takeover, the report said.
If the talks are successful, it will help RIL diversify its retail business through omni-channel initiatives. Reliance Retail will own a network of 600-odd Subway stores across India.
The entry would also intensify competition in the country's organised quick-service restaurant market, which includes global brands such as Domino's Pizza, Burger King, Pizza Hut, Starbucks, and their local partners such as the Tata Group and Jubilant FoodWorks.
Subway's business in India is run through several regional master franchisees.
Globally, the company is undergoing a restructuring exercise that involves shifting of headquarters, and slashing costs and global headcount amid falling sales, warring franchisees, and growing speculation of a worldwide takeover, the report said.
If the talks are successful, it will help RIL diversify its retail business through omni-channel initiatives. Reliance Retail will own a network of 600-odd Subway stores across India.
The entry would also intensify competition in the country's organised quick-service restaurant market, which includes global brands such as Domino's Pizza, Burger King, Pizza Hut, Starbucks, and their local partners such as the Tata Group and Jubilant FoodWorks.