Fast-food chain Panda Express, known for its American-Chinese cuisine, is planning to enter India with a partnership with JSM. Mumbai-based JSM that brought international chains like Hard Rock Cafe and California Pizza Kitchen in the country has apparently inked a master franchise agreement with Panda Restaurant Group which runs the food chain.
Sources said JSM is likely to roll out the first few outlets of Panda Express over the next six months starting with major metros. It plans to open over 50 outlets for the brand in the next five years. The company's co-founder Jay Singh has confirmed the development but refused to indulge in any details.
Panda Express is one of the largest Chinese restaurant businesses in the US with sales of over $2 billion as of 2014. JSM plans to start Panda through largely self-serviced outlets in India in a method to lower operational costs. The company was founded by Singh and Sanjay Mahtani, in 2004 and is backed by Azim Premji's investment fund PremjiInvest.
