US-based burger chain Carl's Jr to enter India
New Delhi (10th Sept, 2014): US-based burger chain Carl's Jr on Wednesday said it is entering India through a franchise partnership with CybizCorp.
"CKE Restaurants Holdings, Inc, parent company of Carl's Jr, today signed a development agreement with India's Cybiz BrightStar Restaurants Pvt Ltd," the company said in a statement.
The company said that initial agreement is to open up to 100 Carl's Jr outlets. However, it did not elaborate by when it plans to open the 100 outlets.
CKE believes there is potential for more than 1,000 restaurants in India over the time, the company said, adding that the first store is expected to be opened by spring of 2015.
Commenting on its India plans, CKE Restaurants President of International Ned Lyerly said: "We have been preparing for an entry in India for more than three years, and after substantial due diligence we decided to sign CybizCorp as our franchise partner in the country."
"We see tremendous potential in the Indian market, and CybizCorp's proven track record in the franchise sector in both real estate and F&B gives us great confidence in the partnership and our future success in the country," he added.
In the recent past, Carl's Jr entered markets including Brazil, Canada, Costa Rica, Denmark, Ecuador, New Zealand and the Bahamas.