US-based full-service restaurant major DineEquity Inc has signed a franchise agreement with Kwal's Catering to open 20 IHOP restaurants across India as part of its international expansion plans.
The company has signed a multi-unit franchise agreement with Kwal's Group subsidiary Kwal's Catering Pvt Ltd to bring IHOP, breakfast chain and leader in family dining to India, DineEquity said.
"For our company Asia presents largest growth opportunity for us. For IHOP, opportunity is in Asia pacific region and that includes India. Indian consumers already have exposure to American brands," DineEquity Inc Business Development & Operations Asia Pacific Director James G Cavalaris told PTI.
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The company plans to open the first restaurant under the brand in March 2017.
"We are planning to open 20 restaurants under the IHOP brand by the end of 2020. The investment on opening these will be around Rs 100 crore," Kwal's Group Managing Director Sameer Lamba said.
The locations that are being considered for this are Delhi, Bengaluru, Chennai, Hyderabad, Pune and Kochi, he added.
"International is where we are eyeing expansion for the company. IHOP has very strong presence across the globe. The aim is to provide the American experience," DineEquity Inc International Marketing Director Beatrice Carvalho Martins said.
DineEquity Inc currently has over 3,700 Applebee's and IHOP restaurants.
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