Taco Bell, the world’s largest Mexican-inspired restaurant chain, is continuing its major global expansion with the signing of its largest master franchise agreement in India, as well as unveiling new international markets for the brand.
The Master Franchise Agreement, signed with franchise partner Burman Hospitality Private Limited (BHPL) of India, commits to developing 600 restaurants on the sub-continent in the next 10 years. Upon completion of the 600 restaurants, the brand expects to contribute over 20,000 jobs to India’s economy, and even more indirect jobs through expanded supply chain and vendor needs. With the announcement of this agreement, India is set to become Taco Bell’s largest market outside of the United States. The deal also sets up BHPL to become one of the largest Taco Bell franchisees globally by restaurant count.
Currently, Taco Bell has 35 restaurants in India. By the end of 2019 alone, the brand, in collaboration with BHPL, aims to have over 60 restaurants across the sub-continent, including new geographies such as West Bengal and Gujarat.
“We see so much opportunity in India, as it is still a largely untapped market for Taco Bell and offers huge potential for the brand,” said Ankush Tuli, managing director, Taco Bell APAC. “We’ve partnered with Burman Hospitality for the past four years growing our presence in India, and the Master Franchise partnership marks a significant step in our journey. We are excited to bring together BHPL’s industry knowledge and our expertise with product innovation and research to continue bringing Taco Bell to consumers across India.”
In addition to India, Taco Bell will continue expansion across Asia, with the goal of expanding its presence to five restaurants in Thailand by the end of 2019. Taco Bell first opened in Bangkok, Thailand in January 2019 in partnership with franchise Siam Taco Co. and the overwhelmingly positive response from Thailand fans is driving continued growth in the market.
In the coming 12 months Taco Bell will also open its doors in Sydney and Melbourne, Australia for the first time. After tremendous success in Australia over the past two years, Taco Bell is continuing to prioritize expansion in the region. Entrance into the prominent cities of Sydney and Melbourne marks a major moment for the brand after testing the waters in Brisbane. In addition to the Australian franchise partner Collins Foods, Taco Bell will also be partnering with Restaurant Brands Group to bring Taco Bell to New Zealand for the first time within the next year.
Additionally, Taco Bell is always looking ahead at future markets that are the right fit to enter into. In the coming year, the brand has its sights set on entering Indonesia and Portugal.
“The incredible response we’ve seen in India, Southeast Asia and Australia proves to us that these markets are ripe for continued growth,” said Liz Williams, President, Taco Bell International. “The combination of consumer enthusiasm, a healthy business model and fantastic franchise partners makes now, more than ever, the right time for Taco Bell to expand around the world.”
Taco Bell’s pace of rapid global growth isn’t showing any signs of slowing down as the brand continues to set its sights on new markets. Taco Bell operates over 500 restaurants across nearly 30 markets outside of the United States, and operates over 7,000 restaurants in the United States.
About Taco Bell International
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., is the world’s leading Mexican-inspired quick service restaurant (QSR) brand. Taco Bell serves made-to-order and customizable tacos and burritos and other specialties with bold flavors, quality ingredients, breakthrough value, and best-in-class customer service to over 40 million customers weekly across the globe. There are currently more than 500 Taco Bell restaurants across nearly 30 countries outside of the United States. The Company and its franchisees operate more than 7,000 restaurants. By 2022, the brand plans to become a $15B company in global system sales with 9,000 restaurants globally.
SOURCE Taco Bell Corp.