McDonald's, India - Revision history

Jyoti at 06:39, 5 December 2020

2020-12-05T06:39:29Z

Jyoti: /* McDonald’s buys out Connaught Plaza/ 2019, May */

2020-11-17T18:48:19Z

‎McDonald’s buys out Connaught Plaza/ 2019, May

Jyoti: /* Connaught Plaza Restaurants vs. McDonald’s */

2020-11-17T18:46:48Z

‎Connaught Plaza Restaurants vs. McDonald’s

Jyoti at 20:59, 23 December 2018

2018-12-23T20:59:13Z

Pdewan: /* Indian Big Mac among cheapest */

2018-12-22T17:53:56Z

‎Indian Big Mac among cheapest

Pdewan: /* Indian Big Mac among cheapest */

2018-12-22T17:52:43Z

‎Indian Big Mac among cheapest

Jyoti at 07:29, 22 April 2018

2018-04-22T07:29:26Z

Jyoti: /* Legal issues in India */

2018-04-22T07:21:27Z

‎Legal issues in India

Jyoti at 21:46, 30 March 2018

2018-03-30T21:46:08Z

Pdewan: /* India Big Mac among cheapest */

2017-01-29T19:37:10Z

‎India Big Mac among cheapest

@@ Line 1: / Line 1: @@
- {| class="wikitable"
+{| class="wikitable"
 |-
 |colspan="0"|<div style="font-size:100%">
@@ Line 7: / Line 7: @@
 |}
-[[Category:India |M ]]
-[[Category:Pakistan |M ]]
-[[Category:Economy-Industry-Resources  |M ]]
 =Connaught Plaza Restaurants vs. McDonald’s =
@@ Line 74: / Line 74: @@
 =See also=
 [[Restaurants: India]]

@@ Line 27: / Line 27: @@
 ==McDonald’s buys out Connaught Plaza/ 2019, May==
 [https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F05%2F10&entity=Ar00102&sk=D8C8F0A6&mode=text  John Sarkar, May 10, 2019: ''The Times of India'']
 McDonald’s has decided to temporarily shut down 165 of its outlets in north and east India after finally ending its six-year-long bitter battle with its Indian franchise partner, Vikram Bakshi, to take over the 50:50 joint venture, Connaught Plaza Restaurants (CPRL).
@@ Line 53: / Line 55: @@
 MCDONALD]]
 [[Category:Pakistan|M
 MCDONALD]]

← Older revision		Revision as of 18:46, 17 November 2020
Line 24:		Line 24:

	Trouble between the two partners started brewing in 2008 when McDonald’s first tried to buy out Bakshi. Things took an ugly turn five years later when McDonald’s voted against the re-election of Bakshi as the MD of CPRL and accused him of financial mismanagement. It saw Bakshi turn to the NCLT, which reinstated him as the MD of CPRL last year. It was all downhill from that point onwards as both parties locked horns in NCLT, NCLAT and in Delhi high court.		Trouble between the two partners started brewing in 2008 when McDonald’s first tried to buy out Bakshi. Things took an ugly turn five years later when McDonald’s voted against the re-election of Bakshi as the MD of CPRL and accused him of financial mismanagement. It saw Bakshi turn to the NCLT, which reinstated him as the MD of CPRL last year. It was all downhill from that point onwards as both parties locked horns in NCLT, NCLAT and in Delhi high court.
		+
		+	==McDonald’s buys out Connaught Plaza/ 2019, May==
		+	[https://epaper.timesgroup.com/olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIDEL%2F2019%2F05%2F10&entity=Ar00102&sk=D8C8F0A6&mode=text John Sarkar, May 10, 2019: ''The Times of India'']
		+
		+	McDonald’s has decided to temporarily shut down 165 of its outlets in north and east India after finally ending its six-year-long bitter battle with its Indian franchise partner, Vikram Bakshi, to take over the 50:50 joint venture, Connaught Plaza Restaurants (CPRL).
		+
		+	While the terms of the deal, including the settlement of the contentious $330 million claim by CPRL, were not disclosed by the two estranged partners, Bakshi, who exited the nearly 25-year-old JV, is padding up for a second innings in the domestic fastfood market with another global brand.
		+	Credited for introducing and setting up McDonald’s in India, the 64-year-old entrepreneur is in talks with its rival, US burger chain Wendy’s for franchise rights, sources said. Bakshi said, “I have yet to take any decision about my future.”
		+	McDonald’s and Bakshi have opted for an out-of-court settlement to end their differences.
		+	CPRL is now wholly owned by McDonald’s India Private Limited (MIPL) and its affiliate, McDonald’s Global Markets LLC (MGM). “With the transfer of ownership and management today, Mr. and Mrs. Bakshi end their association with CPRL and McDonald’s,” McDonald’s said in a statement. The settlement marks the end of the uncertainty for the staff at these McDonald’s outlets and is good news for consumers of the Big Mac burgers.
		+
		+
		+	''' Certified suppliers may return to McDonald’s '''
		+
		+	During the transition, the Chicago-headquartered burger giant will focus on two areas – providing employees with clarity regarding their future and revamping the quality of the food being served at the restaurants. McDonald’s-certified suppliers, who stopped supplying to CPRL after McDonald’s had cancelled its franchise agreement, may make a comeback, a global spokesperson for McDonald’s told TOI.
		+
		+	The McDonald’s outlets will reopen in a couple of weeks. “Our top priority is to deliver the highest quality restaurant experience to our customers. We will be working around the clock during this process and anticipate our restaurants will start to progressively open over the next two weeks or so. While we are confident this will result in the best possible experience for our customers, we sincerely regret any inconvenience the temporary restaurant closures may cause,” said Robert Hunghanfoo, who has been appointed head of CPRL after Bakshi’s exit.
		+
		+	Bakshi, who was locked in a bitter battle with Mcdonalds over control of the business is now plotting to take on his former partner teaming up with Wendy’s which so far has had a dismal run in the India, a booming market for quick service restaurants. If Bakshi parners with Wendy’s he would bring to the table his enormous experience in this segment and help revive Wendy’s floundering fortunes in Asia’s third largest economy.
		+
		+	When asked about Bakshi’s interest in Wendy’s, a global spokesperson for the Ohio-headquartered burger chain, told TOI that The Wendy’s Company is focused on “building a stronger brand across the globe”. “At Wendy’s, we are focused on sustained long-term growth,” she said in an email without elaborating.
		+
		+	Wendy’s, which operates more than 6,600 restaurants globally, currently runs less than 10 outlets in India and has shelved plans of opening 40-50 outlets as planned earlier. In India, its franchise rights are owned by Sierra Nevada Restaurants, which is owned by UK-based International Market Management (IMM). The 50:50 joint venture, Sierra Nevada Restaurants, was formed between Amtek Group company’s Rollatainers and IMM, which brought the Wendy’s brand to India in 2015. Rollatainers recently exited the JV by selling its 50% stake in Wendy’s to IMM, whose head Jasper Reid refused to comment on Bakshi’s interest in Wendy’s.
		+
		+	[[Category:Economy-Industry-Resources\|M
		+	MCDONALD]]
		+	[[Category:India\|M
		+	MCDONALD]]
		+	[[Category:Pakistan\|M
		+	MCDONALD]]

	=Prices=		=Prices=

@@ Line 8: / Line 8: @@
 [[Category:India |M ]]
-[[Category:India |Pakistan ]]
+[[Category:Pakistan |M ]]
 [[Category:Economy-Industry-Resources  |M ]]
 =Prices=
@@ Line 18: / Line 32: @@
 ''The price of a Big Mac in India, Pakistan and other countries in 2017''
 =See also=
 [[Restaurants: India]]

@@ Line 12: / Line 12: @@
 =Prices=
-==Indian Big Mac among cheapest==
+==Indian Big Mac among cheapest/ 2017==
 [[File: The price of a Big Mac in India, Pakistan and other countries in 2017.jpg| The price of a Big Mac in India, Pakistan and other countries in 2017<br/> [http://epaperbeta.timesofindia.com/Gallery.aspx?id=29_01_2017_023_063_002&type=P&artUrl=INCREDIBLE-FACT-29012017023063&eid=31808  ''The Times of India'']|frame|500px]]

← Older revision		Revision as of 07:21, 22 April 2018
Line 15:		Line 15:
	'''See graphic''':		'''See graphic''':
	''The price of a Big Mac in India, Pakistan and other countries in 2017''		''The price of a Big Mac in India, Pakistan and other countries in 2017''
−
−	~~=Legal issues in India=~~
−	[https://timesofindia.indiatimes.com/business/india-business/mcdonalds-has-a-legal-problem-in-pizza-loving-india/articleshow/63500387.cms McDonald's has a legal problem in pizza-loving India, March 28, 2018: ''The Times of India'']
−
−
−	~~'''HIGHLIGHTS'''~~
−
−	~~McDonald’s terminated its agreement with Connaught Plaza Restaurants Ltd., the joint venture company that manages outlets in northern and eastern India in August~~
−
−	~~Data shows Domino’s and Subway have gained share since then, eroding McDonald’s hold~~
−
−	~~''McDonald’s Corp. has a problem in India and its rivals are loving it.''~~
−
−	Even as the world’s largest restaurant chain tries to woo Indian stomachs with such menu items as the McAloo Tikki (a potato and pea patty on a bun), a legal dispute with a key franchisee partner has hampered its expansion. Shares of India’s Domino’s Pizza operator Jubilant Foodworks Ltd. have more than doubled in the past year as the country’s biggest quick-service outlet benefits from a surge in online orders for home pizza delivery.
−
−	A pickup in the economy and growing demand from the planet’s largest youth population are boosting fast-food sales in India. Researcher Euromonitor International predicts the market will expand 5.8 per cent to $21.2 billion this year -- a 50 per cent jump since 2008. Domino’s and Subway have gained share, eroding McDonald’s hold, Euromonitor data show.
−
−	“Our growth has completely petered off,” said Vikram Bakshi, managing director of Connaught Plaza Restaurants Ltd., the joint venture company that manages McDonald’s outlets in northern and eastern India, encompassing such cities as New Delhi and Kolkata.
−
−	McDonald’s terminated its agreement with Connaught in August, though the Indian venture has kept running its 169 outlets while the dispute is adjudicated in the courts. Bakshi has been fighting Oak Brook, Illinois-based McDonald’s since 2013, the same year Domino’s overtook McDonald’s as India’s largest fast-food brand.
−
−	A McDonald’s spokesman declined to comment on the matter because it’s under judicial consideration and prohibited from being discussed outside of the courts. The Indian unit of the U.S. company hasn’t been able to verify if Connaught-run restaurants are complying with McDonald’s standards, he said.
−
−	Connaught has engaged a new logistics partner, ColdEX Logistics Pvt Ltd., which provides distribution services for other multinational food-service brands, and Connaught is compliant with India’s food industry regulations, Bakshi said.
−
−	~~'''OPENING OUTLETS'''~~
−
−	Westlife Development Ltd., the other McDonald’s franchise partner, runs 271 stores in the southern and western parts of India. According to a company spokeswoman, it plans to expand to as many as 500 outlets by 2022 -- growth prospects that have helped propel the shares 53 per cent in the past 12 months.
−
−	~~Meantime, Jubilant Foodworks is forging ahead and has said the company is on course to have added at least 30 Domino’s stores this financial year to its 1,127-strong network across 265 cities.~~
−	“There is significant potential for the pizza business in the country, and we are committed to leveraging that potential,” Chief Financial Officer Pratik Pota told analysts and investors on a conference call in January, according to a transcript.
−
−	Jubilant’s profit more than tripled to Rs 66 crore in the quarter ended December 31 from a year earlier, helped by the Indian government’s introduction of a goods and services tax for restaurants in July, which Co-Chairman Hari Shanker Bhartia said would boost India’s organized restaurant industry at the expense of “unorganized” vendors. Hawkers and small operators combined make up the bulk of India’s fast-food market.
−
−	~~The shares have climbed 33 per cent in Mumbai trading this year, making Jubilant the best-performer among stocks on the S&P BSE 200 Index.~~
−	“Jubilant has clearly gained from the ongoing fracas” involving McDonald’s, said Santosh Kanekar, an adviser at BeLive Corp. in Mumbai. Chains such as Burger King and KFC will also be trying to gain market share, he said.
−
−
−	Domino’s became the first food-services company in India to begin taking online orders nationwide, Jubilant said in 2011. Since then, online ordering has become “a significant engine of growth,” Pota said on the January 19 earnings call. “As technology gets embraced across the pop strata, as smartphone penetration increases, I’d expect this growth to continue.”
−	~~As for McDonald’s, resolution with Connaught will take time, the spokesman said. Meantime, India remains an important market and its local unit is looking for a new partner, he said.~~

@@ Line 13: / Line 13: @@
 =Indian Big Mac among cheapest=
 [[File: The price of a Big Mac in India, Pakistan and other countries in 2017.jpg| The price of a Big Mac in India, Pakistan and other countries in 2017<br/> [http://epaperbeta.timesofindia.com/Gallery.aspx?id=29_01_2017_023_063_002&type=P&artUrl=INCREDIBLE-FACT-29012017023063&eid=31808  ''The Times of India'']|frame|500px]]
-See graphic.
+'''See graphic''':