Pie Face to expand into Indian market
- June 12, 2013
- Sophie Langley
Australian pie retailer Pie Face has announced it has signed an exclusive memorandum of understanding (MOU) with development partners to expand into the Indian market.
Business consultants Rick Aylett and Ajay Grover have signed on to manage Pie Face India Pty Ltd, acting as liaison and developing the Indian market by appointing Indian Master Franchisees (IMFs) for specific territories throughout India. Pie Face said both Mr Aylett and Mr Grover have “extensive food, beverage and hospitality experience in the Indian, Asian and Australian markets”.
“We are very pleased to appoint Rick Aylett and Ajay Grover as our Development Partners to help secure the best possible retail partners for the territory,” said Wayne Homschek, Pie Face CEO.
“The Indian market is beginning to develop in terms of Quick Service Restaurant (QSR) food brands expanding through the market. The territory has a very large and growing middle class of over 170 million people, and represents a significant long term growth opportunity for the company,” Mr Homschek said.
The Company said Pie Face India has begun discussions with prospective IMFs and will “carefully choose the right partners with the required experience, expertise and resources to ensure the Pie Face brand is successful in the market”.
“We believe the Pie Face brand and offering will be very successful in the Indian market,” said Ajay Grover, one of the newly appointed Development Partners.
“While a large portion including the sweet products would already be ideal, a new range will be tailored to meet the Indian customer’s tastes, with special attention paid to developing an extensive range of vegetarian pies. There are no beef or pork products on the Indian menu. The brand will have strong appeal to all ages, especially the young adult market, which comprises of over two thirds of the Indian population,” Mr Grover said.