Joining the rush of Western fast-food companies, Burger King partnered with Singapore-based private equity and real estate group, Everstone co-owned by Atul Kapur and Sameer Sain.
Joining the rush of Western fast-food companies, Burger King partnered with Singapore-based private equity and real estate group, Everstone for rolling out restaurants across India. Despite being a new-entrant to India's highly lucrative fast-food sector, 'The King' managed to work up frenzy even before introducing its first outlet in a New Delhi mall last November.
Everstone, by bringing its vast consumer insights, extensive retail real estate expertise, and an experience of food and beverage operations to use efficaciously build up Burger King Brand into India's leading quick service restaurant. Thrilled at the much-successful launch of BK, Sameer Sain, co- founder and managing partner of Everstone Group, said, "We don't believe in growing slowly".
Everstone with its business acumen and cognizance of massive and complex Indian market has been no stranger to the counter sector. The group owns 244 eateries, including popular local chains like Copper Chimney, Bombay Blue and Noddle Bar.
Established in 1954, Burger King is the second largest fast-food hamburger chain in the world. Operative in more than 90 countries, BK Asia Pac Pte president Elias Dias Seze declared, "India is a market with huge potential for Burger King Restaurants and we have the chance to offer the unique Burger King Brand proposition to its consumers with our own local twist to the menu".
Creating e-buzz by preselling its burgers on eBay, BK drew online orders for 1,200 Whoopers, all within a few hours. The hype was better witnessed when over 5,000 people thronged its first outlet in Delhi. The 60-year old fast-food chain has currently gone out to open ten restaurants in all i.e. five each in Delhi and Mumbai and has seemed to totally hit it off with the diversified Everstone Group.
All up to invest for the long haul-up up to $80 million for the nationwide rollout, Atul Kapur, co-founder, Everstone Group, admits, "We were hungry for the business".