Papa John’s International, the world’s third-largest pizza delivery chain, is making a comeback in India after exiting the market in 2017. The U.S.-based brand plans to open 650 stores over the next decade, starting with its first outlet in Bengaluru by October 2024.
Master Franchise Partnership
The re-entry will be led by Pulsar Capital, an Indian investment house, and UAE-based PJP Investments Group, who are joint master franchisees. Vish Narain, managing partner at Pulsar Capital, confirmed the company’s long-term vision to capture India’s underpenetrated fast-food market.
A Challenging Market
Papa John’s faces a tough environment as fast-food sales in India have slowed. Cash-strapped urban consumers are cutting back due to weak wage growth, while competition has intensified. Major players like Domino’s (2,200+ outlets) and Pizza Hut (950 stores) already dominate the market. Smaller chains such as Pizza Bakery and PizzaExpress are also expanding cautiously.
Learning From The Past
Papa John’s had earlier exited India due to underperformance, but this time the company is betting on localization. The brand will adapt its menu to Indian tastes while retaining its global favorites. Rivals have found success with similar strategies—Domino’s offers chicken tikka pizza, KFC has a paneer zinger burger, and Subway serves potato patties.
Long-Term Growth Bet
Despite short-term headwinds, Pulsar Capital is confident in India’s long-term potential, citing parallels with other consumer brands like Hindustan Unilever and Heineken that continue investing in the country of 1.4 billion people. “The category is under-penetrated, so we are many years away from saturation,” said Narain.
