Published On:May 15 2024
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"Devyani International, PVR to Establish Joint Venture for Mall Food Court Operations"

Devyani International Limited (DIL), a leading Quick Service Restaurant (QSR) operator, and PVR Inox, a prominent multiplex operator, have unveiled plans for a strategic partnership aimed at establishing a joint venture company in India. The purpose of this venture is to develop and operate food courts within shopping malls across the country.

In a joint statement, the companies emphasized the significance of this partnership, citing mutual trust in each other's expertise and the reinforcement of their existing collaboration. They expressed confidence that the alliance would enable both Devyani International and PVR Inox to reach a broader audience and expand their market presence.

Ravi Jaipuria, Non-Executive Chairman of Devyani International Limited, highlighted the partnership's role in strengthening DIL's position in the food courts business in India. He expressed enthusiasm about the growth and expansion opportunities it would unlock, underscoring DIL's commitment to making food courts a strategic growth pillar.

Ajay Bijli, Managing Director of PVR Inox Ltd., outlined the strategic benefits for PVR Inox, stating that the venture would enable the company to diversify its revenue streams by tapping into pre-ticketed Food & Beverage (F&B) revenue. He emphasized that this move was the first in a series of steps aimed at expanding PVR Inox's F&B business. Additionally, Bijli highlighted the unique selling proposition (USP) of the collaboration, which lies in the ability to co-promote both movies and food to an audience of 150 million.

The partnership between Devyani International and PVR Inox signals a strategic move to capitalize on the synergies between the QSR and entertainment industries, setting the stage for innovation and growth in the food court segment within Indian malls.

HBL





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