EghtesadOnline: Telepizza, the largest non-US-based pizza delivery company in the world by number of stores, has announced further expansion, with the opening of its first Iranian store in Tehran’s Marzdaran Boulevard, with two other stores set to open by the end of the month.
It signed a master franchise agreement with Momenin Investment Group last year. MIG will be investing €100 million in the next 10 years, Market Watch reported.
The Tehran store opening marks the start of the latest phase of Telepizza’s ambitious global expansion plans, becoming the first international quick service restaurant brand to enter the Iranian market. It has 1,421 stores globally.
Telepizza plans to build on this successful first launch with a further seven stores due to open in the Iranian capital by the end of 2017 and 200 stores across the country planned in the next 10 years, according to Financial Tribune.
The significant opportunities presented by Iran’s large, young population (more than 80 million people, of which 65% are below 36 years), and highly fragmented competition, made the country an obvious choice for expansion.
“We are very proud of the inauguration of our two first Iranian stores. It is a great responsibility to become the first QSR chain in the country,” remarked Pablo Juantegui, chairman and CEO of Telepizza Group. “At Telepizza, we are delighted to share with Iranian consumers the essence of our brand, bringing them the unique flavor of our pizzas, at any moment and place.”
Telepizza International President, Giorgio Minardi, said: “The launch of our first Iranian outlet marks an exciting step in our international expansion, which continues to gain momentum. Iran looks set to become a hugely important market for us, with significant room for growth. We know our innovative flavors and commitment to use only quality local Iranian ingredients, coupled with our outstanding customer service and great value will appeal to Iranian consumers”
At launch, Telepizza brings its expertise and proven track record in marketing, delivery technology-including full service website and ordering app-franchising and supply chain management. Coupled with its franchisee operating strength and real estate and local management expertise, Telepizza is perfectly positioned to take full advantage of the opportunities presented by the emerging Iranian market.
Alongside classic pizzas, the Telepizza menu also features innovative chef’s signature pizzas such as the Nachos pizza, bringing exciting new flavors to the Iranian market and appealing to consumers’ desire to “try something different”.
Headquartered in Madrid, Spain, Telepizza operates in more than 20 countries through a network of own stores, franchisees and master franchisees, with 1,421 stores globally, including 478 own stores (34%) and 943 franchised and master franchised stores (66%) as of March 31, 2017.
Telepizza’s total sales amounted to €527 million in the 12 months to March 31, 2017.