The Noida-based foodservice group has identified significant growth opportunities for value-focused COFFY in Turkey and continues to pursue a coffee-first pivot for its licensed Dunkin’ network in India
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The interior of a COFFY store in Sakarya, Turkey | Photo credit: COFFY/Facebook
Indian foodservice group Jubilant FoodWorks Limited (JFL) has reported strong growth for its COFFY and licensed Dunkin’ café chains over the last 12 months.
Noida-based JFL achieved 9.6% year-on-year group sales growth in the 12 months ending 31 March 2024 to reach Rs 56.5bn ($679m) - primarily driven by its 2,793 licensed Domino’s stores in India.
In January 2024, JFL’s wholly-owned subsidiary Jubilant FoodWorks Netherlands BV (JFN) acquired an additional 51.6% stake in DP Eurasia for Rs 7.7bn ($92.5m). DP Eurasia is now a subsidiary of JFN, which has increased its stake in the business to 94.33%.
In addition to holding the master franchise for pizza chain Domino’s in Turkey, Azerbaijan and Georgia, DP Eurasia also operates the value-focused COFFY chain in Turkey.
JFL opened 62 net new COFFY stores during the 12 months ending 31 March 2024 to reach 97 sites. The Indian foodservice group expects COFFY to become the fifth largest coffee chain in Turkey by the end of 2024 with the medium-term potential for 350 stores.
COFFY achieved 209% year-on-year sales growth during the period to reach Rs 461m ($5.5m) and reached 100 stores with an outlet in Diyarbakır in May 2024.
World Coffee Portal’s Project Café Europe 2024 report forecasts the total Turkish branded coffee shop market to grow by more than 660 stores to reach 3,770 outlets by March 2029.
JFL also opened 10 net new Dunkin’ stores during the period – including six in the fourth quarter – to reach 31 sites in India. JFL has been pursuing a coffee-first brand revamp of its licensed Dunkin’ business since October 2022 in a bid to attract younger consumers with modern store designs and an upgraded coffee menu featuring cold espresso-based beverages.
JFL’s full store portfolio now stands at 2,991 sites. The business opened a record 356 net new stores last year – 240 of which were new Domino’s outlets. JFL also operates licensed Popeyes stores and its own Indo-Chinese QSR brand Hong’s Kitchen in India.