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Rebel Foods is set to invest between INR 100 crore and INR 150 crore to expand American fast-food giant Wendy's presence in India. The plan aims to establish 500 outlets by 2028, aligning with Wendy's global strategy to add 1,000 new restaurants. With an emphasis on cloud kitchens, Rebel Foods intends to leverage its extensive delivery network, while also introducing offline stores. The company's recent funding and operational milestones are part of a broader strategy to enhance profitability and prepare for an IPO within two years.
Rebel Foods has announced its intention to invest INR 100 crore to INR 150 crore in expanding the American burger chain Wendy's footprint in India. This ambitious plan targets the opening of 500 outlets across the country by 2028. The expansion strategy runs parallel to Wendy's global aim of establishing 1,000 new restaurants within the same period. Advertisement
At present, Wendy's operates 200 locations in India. Of these, 185 are delivery-only cloud kitchens, while 15 are traditional offline outlets. Moving forward, the company plans to add 300 additional locations through its local partnership with Rebel Foods. The forthcoming expansion will primarily focus on delivery kitchens, reflecting evolving consumer trends.
Ankush Grover, co-founder and CEO of Rebel Foods India, told reporters at The Mint that over the next two and a half to three years, Rebel's cloud kitchen network is expected to grow to approximately 700 locations, 70% of which will have a Wendy's kitchen.
Rebel Foods, which manages popular brands such as Faasos, Oven Story, Behrouz Biryani, Smoor, and Slay Coffee, acquired the exclusive rights to develop Wendy's cloud kitchen network in India in 2020. In 2023, it expanded its role by securing a deal to develop Wendy's offline restaurants, effectively concluding the chain's association with its former partner Sierra Nevada.
Last month, Rebel's food ordering platform EatSure, which aggregates its various brands, introduced a 15-minute food delivery service known as QuickiES in Mumbai, with plans for expansion to other metropolitan areas.
Rebel Foods currently operates over 450 cloud kitchens across 75 cities, spanning India, the Middle East, North Africa, Indonesia, and the United Kingdom. Looking ahead, 70% of its new locations will be delivery kitchens, with the remaining 30% comprising traditional dine-in outlets, Grover mentioned.
For the financial year 2024, Rebel Foods reported revenue of INR 1,420 crore, marking a 19% increase from INR 1,195 crore in FY23. The company's losses were reduced by 42% to INR 378 crore, with its Ebitda burn falling to under INR 10 crore by December 2024.
After raising USD 210 million in a Series G funding round in December 2024, led by Singapore's sovereign wealth fund Temasek, Rebel Foods is preparing for an initial public offering (IPO) within the next 18 to 24 months.
India's quick service restaurant (QSR) sector is projected to witness a compound annual growth rate (CAGR) of 23% between FY21 and FY25. Edelweiss Securities estimated the country's food services market at INR 4,236 billion in FY20. Despite robust delivery demand, fast food businesses are grappling with profitability challenges caused by high inflation and increased competition.
Grover acknowledged the demand slowdown following November 2024 but observed sequential improvement. He expressed optimism that the upcoming IPL season would fuel renewed growth across the fast food industry.
Source: The Mint
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