KARACHI: IHOP, a US-based multinational pancake restaurant chain, plans to bring its iconic taste to Pakistan by launching at least 19 locations with the first to be opened in Karachi by the end of...
KARACHI: IHOP, a US-based multinational pancake restaurant chain, plans to bring its iconic taste to Pakistan by launching at least 19 locations with the first to be opened in Karachi by the end of the year, a statement said on Monday.
Dine Brands Global Inc, one of the world's largest full service dining companies, said it was in a deal with Pakistan’s Gerry’s Group, to set up a 19-branch network of their IHOP franchise in Pakistan during the course of next nine years.
Under the deal, the expansion-driven diner said nine of the 19 outlets would be franchised by the principals of Gerry’s Group with the other ten sub-franchised.
“Key to our international strategy is identifying and entering new markets, such as Pakistan, that have a rapidly growing economy, are contiguous to existing markets to offer an economy of scale, and above all, have an appetite for IHOP’s unique guest experience of warm hospitality with world famous pancakes, breakfast and other menu items,” Steve Joyce, CEO Dine Brands Global, said in the statement.
Joyce continued that the opportunity to partner with principals from Gerry’s Group as franchisees was also a major factor in our decision.
“Under their ownership, Gerry’s Group is an experienced, established company based in Pakistan with multinational experience across a broad number of industries as well as Food and Beverage, including operating and owning 40 Costa Coffee locations in the United Kingdom.”
Gary Moore, vice president and general manager Dine Brands Global Asia Pacific and the Middle East Region, said, “The principals of Gerry’s Group bring a strong track record of success with global brands. They bring an infrastructure—and the shared values and commitment to excellence—that will be key to introducing IHOP in this exciting new country for us".
Akram Wali Muhammad, managing director Gerry's Group said, “We are delighted to be bringing the world famous American IHOP experience to our country and to our portfolio of successful companies. While IHOP will be a new brand in Pakistan, there is already significant awareness of and excitement about IHOP and we look forward to the opening of our first location later this year.”
Asia Pacific has been targeted as a key area of growth for Dine Brands, along with Latin America, Canada and the Middle East. The company has already signed deals to bring the IHOP brand to South America in 2019 in Peru and Ecuador, and to expand its presence in Canada to Atlantic provinces of New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador.
Dine Brands is currently actively exploring opportunities to bring the IHOP brand to the United Kingdom.
Dine Brands Global International, Development Executive Director Dan Lecocq said, “We have had a lot of interest in Pakistan from potential franchisees and while it fits perfectly with our expansion strategy in the region, we wanted to be sure we found the strongest partner in the country to take that step”.
IHOP, which was founded in 1958, has been a global brand since 1969. IHOP already has a presence in India, Thailand and Guam as well as 11 other countries and Puerto Rico.