Subway has announced a significant expansion plan for India, Sri Lanka and Bangladesh, as it has signed a master franchise agreement with Everstone Group (Everstone).
With this, Subway aims to more than triple its 700 restaurants in the next 10 years.
John Chidsey, CEO, Subway, said, “Today’s announcement represents a significant step in Subway’s transformation journey and global expansion plans. Everstone, with extensive knowledge and proven restaurant operational expertise in the region, is the ideal partner as we begin this new chapter for Subway in India and South Asia.”
Mike Keheo, EMEA president, Subway, said, "The scale of this agreement is unprecedented and will ensure that Subway’s presence across India will more than triple over the next 10 years. We’ve seen huge demand from existing Subway guests in India and couldn’t be more excited to partner with Everstone to strengthen our presence and bring our beloved subs to even more Indian guests.”
Sameer Sain, founder and CEO, Everstone Group, said, “Subway is an iconic brand and its philosophy of freshly made-to-order and better-for-you food delivered at-home and in-store is central to one of the greatest structural consumer trends we see in South Asia. Everstone Group is delighted to be a partner and custodian of Subway in the region. We strongly believe that our significant experience in the QSR space, our strong digital focus, our ability to innovate, as well as our proven execution capabilities, will enable Subway to become a dominant player in the region.”
This agreement with Everstone is part of Subway’s multi-year transformation journey to improve across all aspects of the brand as the business expands its presence around the world.