Papa John's International (PZZA) is planning to re-enter the Indian market this year, a year later than planned, Reuters reported Friday, citing a Papa John's spokesperson.
The company exited India in 2017 as it said its restaurants fell short of expectations set by the brand and the franchisee, according to the report.
"India is a complex market with unique consumer preferences. We are taking the necessary time to ensure our franchise partner opens with the right products and menu, technology, and restaurant footprint to ensure their long-term success," Reuters quoted Papa John's as saying in a statement.
Papa John's did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
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