American chain Domino's Pizza will accelerate development in the Chinese market.
American chain Domino's Pizza will accelerate development in the Chinese market. By the end of 2024, it is planned to open 240 new restaurants, and in 2025-2026 - about 400-600 more.
The exclusive development partner of Domino's Pizza in China is the company, DPC Dash. New expansion plans were announced a year after the company's listing on the Hong Kong Stock Exchange.
It is known that about 180 openings are planned for 2023. In April this year, Domino's Pizza strengthened its position in Qingdao, Changzhou and Wenzhou. Today, the chain has 638 pizzerias in 20 cities.
The company will use about 90 percent of the funds raised in its IPO, which brought Domino's Pizza more than $620 million, to expand its business in China further.
"The recent IPO was a great achievement for both DPC Dash and our global franchisor Domino's Pizza. With the newly raised funds, we intend to aggressively expand in the Greater China region and bring our comprehensive product offerings to hundreds of millions of potential Chinese consumers. We are excited that consumers throughout China will be able to taste our quality handmade pizza at an attractive price," commented DPC Dash Director and Chairman Frank Paul Krasowiec.
10 MAY 2023, China