Belgian bakery and restaurant chain Le Pain Quotidien is making a comeback in India through a master franchise agreement with Bake & Brew Pvt. Ltd., a venture backed by the diversified Nalanda Group. The chain plans to establish 100 outlets across the country by 2035, starting with two in Mumbai.
The initial investment for the venture is Rs. 35 crore, with a focus on expanding into metro areas and key travel retail locations, including airports. This expansion is expected to create approximately 1,500 jobs.
Brijesh Agrawal, Director of Bake & Brew, expressed confidence that the collaboration will cater to the evolving tastes of Indian consumers. Annick Van Overstraeten, CEO of Le Pain Quotidien, emphasized the brand’s commitment to offering authentic dining experiences with a strong emphasis on health and wellness.
The re-entry of Le Pain Quotidien into the Indian market comes at a time of significant growth in the country’s food services sector. According to a recent report by the National Restaurant Association of India (NRAI), the sector is projected to grow at an overall 8.1% CAGR between 2024 and 2028, with the organized sector expected to grow at 13.2%. The food services industry, valued at Rs. 5.69 lakh crore in FY24, is anticipated to reach Rs 7.76 lakh crore by FY28.
This growth is driven by factors such as one of the world’s largest young populations, rapid urbanization, increased exposure, and higher disposable incomes. Le Pain Quotidien’s expansion aligns with these trends, aiming to tap into the growing demand for quality dining experiences in India.